(Montreal) WSP Global on Wednesday posted a profit of 120 million for its fourth quarter, down 5.3% from the same period a year earlier, despite a 23.2% growth in revenue.
The Montreal company’s revenue was $3.56 billion in the quarter ended Dec. 31.
For the full year, WSP made a profit of 431.8 million, down 8.8% from 473.6 million in fiscal 2021. Its annual revenue meanwhile climbed by 16.1% to 11.93 billion.
The strategic consulting, engineering and design services firm attributed the decline in net profit to several factors, including higher depreciation and amortization costs and higher costs of acquiring and integrating businesses .
Earnings per share were 96 cents for the fourth quarter, down from $1.08 a year earlier.
Adjusted net income for the quarter reached 209.3 million, up 21.9% from 171.7 million in the last three months of 2021. Adjusted earnings per share were $1.68, down from $1.46 a year earlier.
The board has authorized the payment of a dividend of 37.5 cents per share on or about April 15, for shareholders of record as of March 31.