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WSP profits up to £577M

Consultant WSP this week confirmed its revenue increased to £577.4M in 2007, up 28% from £449.4m in 2006. Pretax profits were also up, from £30.7M in 2006 to £43.9M for the 12 months to December 31 2007.

WSP chief executive Chris Cole said the growth, despite a slowing of the commercial property market in Western nations, was due to the consultant's work in a variety of sectors and nations.

"Diversification was one of the reasons we performed so strongly in that we're not reliant on any particular market," said Cole.

"We are certainly not naive on the effect [of the credit crunch] on some markets, but those markets only play a small part in WSP."

Acquisitions completed in 2007 have annualised revenues of over £100M.

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