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The portfolio returned £1.1bn or 6.1% in the year to 30 September 2015, despite a difficult market backdrop.
That said, WSP continues to deliver a robust performance despite what remains a difficult market backdrop, and we believe the re-financing should also provide comfort to investors that the business remains well capitalised over the next four years.
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Richard Weaver, partner in PwC's Capital Markets Group, said: "The market conditions are difficult for new IPOs with investors reluctant to invest against a difficult equity market backdrop.
We've prospered, despite the most difficult economic, financial, and advertising market backdrop in about 85 years.
He said, "While we are disappointed with the quarter's results to date, they are set against the backdrop of very difficult market conditions, particularly in our secondary equity business".
In this market backdrop, safe may be the new risky.
"January is a very difficult market.
"Our third quarter performance was resilient against a tough market backdrop.
In a report titled "Chugging Along," a Nomura analyst, Glenn Schorr, said Wednesday the results were "decent given the market backdrop".
Coffee growers are facing a difficult market.
"The market's a difficult market right now for everybody.
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