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

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

London Stock Exchange
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Share Price: 200.60
Bid: 199.90
Ask: 201.40
Change: 0.40 (0.20%)
Spread: 1.50 (0.75%)
Open: 202.00
High: 204.20
Low: 198.20
Prev. Close: 200.20
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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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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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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Wood Group shares rally on unsolicited Apollo approach

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Wood Group rejects takeover offer from Apollo

(Sharecast News) - Wood Group said on Wednesday that it has rejected three unsolicited, preliminary and conditional takeover proposals from Apollo Global Management.

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