WSP reports 132.6% rise in revenue for Q1 2015
Growth in revenue attributed to Canadian consultancy firm’s global acquisitions, notably that of Parsons Brinckerhoff
Canadian consultancy WSP Global has announced a net revenue of $1.02 billion for the first quarter of 2015, up 132.6% from the same period last year.
The firm, which is listed on the Toronto Stock Exchange, reported a total revenue of $1.4 billion for Q1 2015, growing 174.6% from the first quarter of 2014. The strong performance has been attributed to the consultancy’s global acquisitions.
On April 1 2015, WSP acquired SPL Consultants Limited, a consultancy specialised in environment, geotechnical and buildings science in Ontario, where it is based. The acquisition will add 250 employees to WSP’s workforce.
The integration of Parsons Brinckerhoff, which was acquired last September, is also progressing as planned, WSP said in a statement.
“After a full quarter of combined activities with Parsons Brinckerhoff, we are seeing the strength and promise of our combined business,” said Pierre Shoiry, WSP’s president and chief executive.
“Our enlarged firm continues to perform in line with our expectations,” he added.
The Canadian consulting giant’s EMEIA (Europe, Middle East, India, Africa) segment saw 16.4% growth driven by its Middle East, UK and Swedish operations.
“We are pleased the Middle East region has continued on its upward trend of 2014; we have a good pipeline of secured work ahead of us,” said Tom Bower, managing director of WSP | Parsons Brinckerhoff Middle East.
“Proposal activity was strong during the quarter, particularly in the transportation and infrastructure – most notably rail – and property and buildings. Our focus remained on project selection and ensuring we are retaining and attracting the best people.”
