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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: 201.60
Bid: 200.80
Ask: 201.20
Change: 5.80 (2.96%)
Spread: 0.40 (0.199%)
Open: 195.00
High: 202.40
Low: 195.00
Prev. Close: 195.80
WG. Live PriceLast checked at -

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Wood Group ups dividend after slashing headcount 13% in six months

Tue, 18th Aug 2015 07:10

(ShareCast News) - Battered by the crashing oil price, engineer Wood Group upped its interim dividend by 10.1% after slashing costs more than expected as its oilfield workforce was cut by a fifth in the face of tumbling sales and profits.Revenue of $3.07bn in the first six months of the year was down 19.3% on the same period last year, with underlying profit down 17.6% to $2.66bn, and adjusted diluted earnings per share fell 9.7% to 40.1 cents.Yet directors said their outlook for 2015 overall remained unchanged and that full year earnings before interest, tax, dpereciation and amortisation (EBITDA) will be in line with analyst consensus, giving them confidence to stick to their previous promise and lift the dividend to 9.8 cents.With conditions in oil and gas markets remaining "very challenging", chief executive Bob Keiller said all efforts had been made to be disciplined with costs.The $40m of overheads savings achieved in the first half were significantly ahead of original estimates and Keiller anticipated the full year benefit of overhead cost savings will be in excess of $80m and that the impact will endure into 2016.Wood Group cut its global oil production services workforce by almost a fifth in a year, from 30,000 to 23,500, with group headcount down 13% since December.Although the company also announced on Tuesday that it had won a new five year, multi-million-dollar contract with Shell, to provide services to four onshore oil fields in Gabon, the outlook remains dim.Said Keiller: "With little prospect of short term improvement in market conditions, we will focus on remaining competitive and protecting our capability, working with clients to reduce their overall costs, increase efficiency and safely improve performance."
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Canaccord Genuity lowers target price on John Wood Group

(Sharecast News) - Analysts at Berenberg lowered their target price on engineering and consulting firm Wood from 300.0p to 275.0p on Thursday after its environment and infrastructure business was acquired by WSP.

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21 Sep 2022 17:33

John Wood says USD1.9 billion unit sale "transforms" balance sheet

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23 Aug 2022 17:21

REPEAT: Stocks fall on poor data; weak US PMI hits dollar

(Alliance News) - Stocks in London closed in the red on Tuesday after another day of poor economic data from across the globe.

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23 Aug 2022 17:17

LONDON MARKET CLOSE: Stocks fall on poor data; weak US PMI hits dollar

(Alliance News) - Stocks in London closed in the red on Tuesday after another day of poor economic data from across the globe.

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23 Aug 2022 12:04

LONDON MARKET MIDDAY: Stocks in red as UK manufacturing PMI plummets

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23 Aug 2022 08:48

LONDON MARKET OPEN: Recession fears weigh on stocks ahead of UK PMI

(Alliance News) - European markets fell at the start of trade on Tuesday, with investors bracing for some downbeat PMI readings amid worries over inflation, rising interest rates and energy supply woes.

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23 Aug 2022 08:36

TOP NEWS: John Wood half-year loss widens as finance expenses jump

(Alliance News) - John Wood Group PLC on Tuesday posted a widened interim pretax loss as it tackled rising costs caused by inflation and supply chain disruptions.

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23 Aug 2022 08:15

Wood Group operating profit falls as revenue dips

(Sharecast News) - Wood Group posted a decline in first-half operating profit on Tuesday as revenue dipped.

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23 Aug 2022 08:08

LONDON BRIEFING: New John Wood CEO to focus on cash as loss widens

(Alliance News) - John Wood Group on Tuesday reported a widened interim loss as revenue stalled, and said cash generation is its "top priority" going forward.

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23 Aug 2022 07:47

LONDON MARKET PRE-OPEN: Lower call; John Wood interim loss widens

(Alliance News) - Stocks in London on Tuesday morning are set to follow a big decline in New York overnight, as investors nervously await the start of the Jackson Hole central banking symposium later this week.

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