Wood upbeat despite flat revenue

British energy services firm John Wood Group said yesterday it is gaining confidence on prospects for the next 18 months from a resumption in projects by oil companies, after suffering a 24 per cent first-half profit drop. The firm, whose customers include oil majors Total and BP, posted a pre-tax profit of $122.6m (£79.3m) for the first six months of the year, on revenue that was broadly flat at $2bn.