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Wood Group (John)

  • John Wood Group confirms talks with Apollo as it extends deadline for takeover bid

    TAKEOVER BID?

    John Wood Group has confirmed it will hold talks with Apollo to see if a firm offer can be made on the same terms as its fifth takeover bid.

  • Wood Group forks out £97m to settle historic litigation case

    legacy litigation

    John Wood Group and its energy subsidiary Amec Foster Wheeler Energy are to fork out $115m (£97.6m) to settle a legacy litigation case with US energy services provider Enterprise. All parties have agreed on the settlement fee, which will be paid in one instalment within the next week, Wood Group announced this morning. Enterprise filed [...]

  • Wood Group posts flat revenue but confident performance will improve in second half

    WOOD GROUP

    Engineering firm Wood has posted flat revenue after a decline in its projects and operations arms. In half year results for the six months ended 30 June 2022, the London-listed firm posted revenue of $2,561m, down 0.4 per cent on the $2,570m in the comparable period in 2021.  Adjusted EBITDA fell 5.1 per cent to [...]

  • Wood Group returns to revenue growth as bosses promise of more gains to come

    July 7, 2022

    Wood Group has returned to revenue growth of $3.2bn (£2.6bn) over the past six months following strong demand in its consulting and operations and a billion-dollar disposal. While the FTSE group noted a decline in projects in the six months ended 30 June, it hailed a strong order book, which has grown 18 per cent [...]

  • First of its kind: Energy giant Wood secures £430m green transition loan

    August 19, 2021

    London-listed energy and engineering giant Wood has secured a £430m government-backed green transition loan – the first of its kind in the fight against climate change. Firms operating in the UK’s “industrial heartlands”, like Aberdeen-headquartered Wood, will be backed by the government in its bid for net zero emissions by 2050, the government said in [...]

  • Wood Group forecasts revenue slump as Covid derails operations

    June 24, 2021

    Engineer Wood Group this morning forecast a 21 per cent drop in half year revenue as the company received smaller contracts during the pandemic. Revenue hit $3.2bn in the six months ended 30 June, with improved momentum in the second quarter as lockdown restrictions eased. The company said it expects net debt to increase to [...]

  • Wood Group axes final dividend as oil service firm swings to loss

    March 16, 2021

    Engineers Wood Group this morning said it would not pay a final dividend after falling to a £228m loss in 2020. The FTSE 250 firm, which provides services for the oil industry, was battered by the collapse in oil prices last spring. As a result, it swung from a profit of £73m in 2019 to [...]

  • Wood Group profits to fall by a fifth amid ‘unparalleled challenges’ for market

    June 19, 2020

    Wood Group has predicted that first half profits will tumble by nearly one-fifth, amid the “unique and unparalleled challenges” presented by the coronavirus pandemic. The engineering giant said that the slump in oil prices led to delays in order intake. It added that first half revenues would be down about 11 per cent on the [...]

  • Wood Group shares climb on expectation of higher annual earnings

    January 16, 2020

    Shares in John Wood Group have risen after the oilfield services provider said it expects higher core earnings for 2019, with a strong performance from its engineering services unit offsetting slowing onshore drilling demand in the US. In an update to the stock exchange on Thursday, the firm said it expects adjusted earnings before interest, [...]

  • Wood Group boosts first-half profit as it looks to cut debt pile

    June 26, 2019

    Energy services firm Wood Group has reported profit growth in the first half of the year, thanks to an improvement in its margins. The FTSE 250 firm said revenue for the six months to the end of June was in line with the previous year. Read more: Wood Group wins $1bn nuclear contract at Sellafield [...]

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