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Pin to quick picksWood Group (J) Share News (WG.)

Share Price Information for Wood Group (J) (WG.)

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Share Price: 190.00
Bid: 189.60
Ask: 190.70
Change: 0.70 (0.37%)
Spread: 1.10 (0.58%)
Open: 190.90
High: 190.90
Low: 188.50
Prev. Close: 189.30
WG. Live PriceLast checked at -

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Wood Group profits at top end of guidance

Tue, 28th Mar 2023 07:49

(Sharecast News) - Wood Group said on Tuesday that full-year profit was at the top end of its guidance range, thanks in part to solid performances from its consulting and operations businesses.

In the year to the end of December 2022, adjusted earnings before interest, tax, depreciation and amortisation came in at $385m, down 4.7% from the previous year or flat at constant currency, and at the top end of the $375m to $385m guidance given in the January update.

Revenues ticked up 4% to $5.4bn, with growth of 4% and 15% respectively in the consulting and operations segments, offset by an expected decline in projects revenues, which fell 6%. Wood Group said the projects business returned to growth in the second half.

Chief executive Ken Gilmartin said: "We are pleased to have delivered results in line with expectations for 2022, including a return to revenue growth - with 8% growth at constant currency. This was achieved in a year of major change for the group, under new leadership, as we addressed legacy issues, transformed our balance sheet and launched a new strategy.

"Our strategy is already delivering. We started 2023 with good momentum - our order book for delivery in 2023 is up 10%, headcount is up 8% and financial guidance for 2023 is in line with our medium-term financial targets of adjusted EBITDA growth at mid to high single digit CAGR, with momentum building as our strategy delivers. We now we look to the future with confidence as a much stronger company."

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8 Mar 2023 11:17

Jefferies downgrades Wood Group to 'hold'

(Sharecast News) - Analysts at Berenberg downgraded engineering services firm Wood Group from 'buy' to 'hold' on Wednesday following a fourth cash offer for the company.

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8 Mar 2023 09:20

LONDON BROKER RATINGS: Jefferies cuts John Wood to 'hold' from 'buy'

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning:

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8 Mar 2023 07:59

LONDON BRIEFING: UK insurers report mixed results and change chairs

(Alliance News) - Stocks in London are set to open lower on Wednesday, as markets saw any prospect of a dovish pivot from the US Federal Reserve dashed on Tuesday after its chair said rates would likely remain high.

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7 Mar 2023 17:02

LONDON MARKET CLOSE: Stocks down as Powell comments knock confidence

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7 Mar 2023 12:21

LONDON MARKET MIDDAY: Stocks static ahead of US Fed chair testimony

(Alliance News) - Stock prices in London were broadly flat at midday on Tuesday, though the FTSE 100 crept into the green, as investors waited for Federal Reserve Chair Jerome Powell's two days of testimony before the US Congress.

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7 Mar 2023 12:09

CORRECT: John Wood shares up as receives new Apollo takeover approach

(Correcting headline to clarify that John Wood has not rejected the proposal.)

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7 Mar 2023 11:12

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7 Mar 2023 10:05

TOP NEWS: John Wood shares up as rejects new Apollo takeover approach

(Alliance News) - John Wood Group PLC on Tuesday said it has rebuffed a fourth proposal for a takeover by Apollo Global Management Inc.

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7 Mar 2023 09:45

Britain's Wood Group may reject $1.98 bln Apollo buyout proposal

March 7 (Reuters) - John Wood Group said it may reject a sweetened 1.64 billion pound ($1.98 billion) buyout proposal from private-equity firm Apollo Global Management Inc , as it still undervalued the British oilfield services and engineering company.

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7 Mar 2023 08:56

LONDON MARKET OPEN: European markets subdued before Fed testimony

(Alliance News) - London's equities got off to a lukewarm start on Tuesday, as investor caution prevailed ahead of policy commentary by the head of the US central bank.

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7 Mar 2023 07:49

LONDON BRIEFING: UK house prices rise; John Wood gets 4th Apollo bid

(Alliance News) - Stocks in London were called to open flat on Tuesday, with the market focusing on US monetary policy.

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7 Mar 2023 07:44

Wood Group rejects fourth takeover approach from Apollo

(Sharecast News) - Wood Group said on Tuesday that it was 'minded to reject' a fourth takeover approach from Apollo Global Management as it undervalues the business.

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23 Feb 2023 17:10

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