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WSP posts £40m profit for 2007

WSP Group today posted before tax profits of £40.1M for 2007, a 46% rise on last year's figures.

The Group's order book for 2008 stood at £940M on December 31st, but now exceeds the £1bn mark. Senior board members are optimistic about the Group's performance in 2008.

WSP Group Chairman, David Turner, said: "I am very pleased to report that WSP has had another excellent year. The outstanding financial results and the successful delivery of our strategic objectives have ensured that our performance is ahead of market expectations."

WSP Group is halfway through its five year strategic plan, and is currently performing in line with expectations, according to their trading statement, published this morning.

Turner explained WSP's current rapid growth isn't simply due to the acquisitions made last year, which account for 7% of total revenue, but down to strong performance across all sectors.

He said: "Our business model of diversification, together with our ability to be both flexible and resilient, positions us well for the future."

"We will continue to improve operational efficiency and with our strong secured order book and clear visibility over 2008 and 2009 I am confident that the Group will continue to deliver increased revenue and profits in the year ahead."

WSP's share price rose almost 5% on early trading.

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