Engineering group announces first results since 拢820m Parsons Brinckerhoff deal
WSP increased turnover by more than 40% in 2014, the firm has announced.
The Toronto-listed engineering group posted turnover of CAN$2.9bn (拢1.5bn) for the year to 31 December 2014, up 44% on 2013.
Turnover for the final quarter was up 118%, at CAN$1.2bn (拢610m). This was largely due to the acquisition of Parsons Brinckerhoff last October for 拢820m, which created a combined business of 32,000 employees globally based across 500 offices in 39 countries.
Underlying profit, known as Ebitda, grew by 40% over the year, from CAN$72.9m (拢38.8m) to CAN$253.5m (拢135.1m). Over the final quarter, it rose 83%, from CAN$40.9m (拢21.8m) to CAN$90.1m (拢48m).
The business鈥� profit margin for 2014 was 10.8%.
Pierre Shoiry, WSP president and chief executive officer, said: 鈥淕oing into 2015, we intend to continue our strong execution, with a focus on integration, organic growth-based performance and continued improvements in our project delivery capabilities.鈥�
No comments yet