Wood Group confident on targets

City A.M. Reporter
Wood Group expects to meet its full year projections, it said in an interim management statement today.

The Aberdeen-based oil and gas company cited a high-performing engineering division and strong developments in Australia, Angola, the North Sea and North America.

While the group expects a full-year loss of $15m to $20m (£6m to £9m) in Oman, “we anticipate strong operating cash flow in the second half, and our strong balance sheet provides a robust platform for growth,” it said.

Wood Group’s shares were 2.71 per cent up in lunchtime trading.