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WSP - Property market fragile

March 2002

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • WSH
Results for the year to 31 December showed profit before tax and goodwill up 57% to £15.1m on sales up 67.5% to £231m. This included  a seven month contribution from J&W which made a £4.2m profit on sales of £60m. Borrowings in the year rose from £18m to£50.6m as a result of the acquisition, although WSP has hedged most of this to protect itself from rising rates. Operating profit before a higher interest charge of £2.1m was up 61% to £17.5m. Eps rose 34% to 22.7p. The last time recessionary problems hit WSP was inpre-1993 but back then this was a much smaller UK-based buildingconsulting engineer. The expansion of the past eight years means WSPis not reliant on any one discipline, client or sector. In ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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