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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: 150.00
Bid: 149.50
Ask: 149.90
Change: 3.00 (2.04%)
Spread: 0.40 (0.268%)
Open: 147.30
High: 150.90
Low: 144.90
Prev. Close: 147.00
WG. Live PriceLast checked at -

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Wood Group reaps benefits of US shale boom in first half

Tue, 19th Aug 2014 09:21

First-half earnings at energy services provider John Wood Group were flat but slightly better than the market was expecting as the company benefitted from strong activity in the US shale sector.Revenues were up 10% at $3.8bn and total earnings before interest, tax and amortisation (EBITA) was in line with the same period in 2013 at $243.9m and management said they continued to anticipate full year total EBITA will be in line with expectations and up on 2013. Profit from continuing operations on an equity accounting basis before tax and exceptional items climbed 15% to $182.4m and earnings per share of 44.4 cents were almost flat compared to the prior 44.5 cents. While the PSN segment reaped the benefit of the US shale boom, Wood's engineering segment was held back, as expected, by a slowdown in upstream activity that was only partially offset by good performance in subsea and pipelines and downstream. Chief executive Bob Keiller: "We have seen strong performance in our PSN Production Services activities in the US shale market, offset by an anticipated lower contribution from upstream engineering and weaker than expected performance in our turbine activities. Looking forward he said: "Overall, the outlook for the group for the year remains unchanged from the position outlined at our December 2013 trading update; we continue to anticipate full year EBITA to be in line with expectations and up on 2013, led by growth in PSN Production Services."Net debt increased sharply from $310m at the end of 2013 to $427m, hit by adverse moves in working capital that the company said was typical seasonal movement, lifting gearing from 13% to 17% at end-June.Broker Investec calculated that revenues were 10% ahead of consensus and EPS was 4% ahead. "Engineering margins are weaker than expected, but EBITA should be supported by recent acquisitions. Despite weak sector sentiment, the upside to our unchanged target price is starting to look more compelling."Shares in Wood Group were up 4.2% to 783p at 09:10 on Tuesday. OH
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14 Jun 2023 14:58

Petrofac Ithaca, Wood Group workers to resume North Sea strike

June 14 (Reuters) - British union Unite said on Wednesday that North Sea offshore oil and gas workers employed by Petrofac on the FPF1 platform, and by the Wood Group UK Limited on TAQA platforms will resume strike action over pay next week.

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14 Jun 2023 14:21

Petrofac Ithaca, Wood Group workers to resume strike action, Unite says

June 14 (Reuters) - British union Unite said on Wednesday that offshore workers employed by Petrofac on the FPF1 platform, and the Wood Group UK Limited on TAQA platforms will resume strike action next week.

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19 May 2023 14:54

John Wood investor Sparta Capital calls for buyback again

(Alliance News) - John Wood Group PLC should announce a share buyback programme to reverse its "material undervaluation", a shareholder said on Friday.

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15 May 2023 17:22

London stocks start week strong as banks, miners rise

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(Alliance News) - Stock prices in London were largely higher at midday on Monday and the pound held firm against the dollar, with the FTSE 100 boosted by a strong performance by mining stocks.

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15 May 2023 12:11

Wood Group shares sink after Apollo abandons 1.7 bln pound bid

May 15 (Reuters) - Shares in John Wood Group were on track for their biggest one-day drop on record on Monday after U.S.-based Apollo Global Management said it would not proceed with a takeover of the British engineering services firm on its fifth attempt.

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15 May 2023 11:21

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15 May 2023 10:30

TOP NEWS: John Wood remains confident as Apollo drops takeover bid

(Alliance News) - John Wood Group PLC on Monday said it was "well placed" to deliver value to shareholders and has faith in its long-term prospects, following Apollo Management Holdings LP's announcement that it will not make a takeover offer.

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15 May 2023 09:19

LONDON MARKET OPEN: Currys outperforms; Wood Group plummets

(Alliance News) - Stock prices in London opened higher on Monday, as a strong performance from mining stocks helped to bolster a cautious optimism, despite concerns over the potential of a US debt default.

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15 May 2023 08:58

STOXX firm despite political, debt ceiling jitters

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at

STOXX FIRM DESPITE POLITICAL, DEBT CEILING JITTERS (0751 GMT)

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