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Wood Group (J) Information
Share Price Information for Wood Group (J) (WG.)
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Share Price:
188.00
Bid:
188.00
Ask:
188.40
Change:
8.00 (4.44%)
Spread:
0.40 (0.213%)
Open:
178.00
High:
189.30
Low:
176.80
Prev. Close:
180.00
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Don't have an account? Click here to register.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."
More News
15 May 2023 12:22
LONDON MARKET MIDDAY: Stocks mostly up, but US budget impasse worries
(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.
Read more15 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.
Read more15 May 2023 11:21
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.
Read more15 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.
Read more15 May 2023 08:58
STOXX firm despite political, debt ceiling jitters
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STOXX FIRM DESPITE POLITICAL, DEBT CEILING JITTERS (0751 GMT)Read more15 May 2023 07:56
LONDON BRIEFING: BAT names new CEO; no offer for John Wood Group
(Alliance News) - Stocks in London were set to open higher on Monday, as investors wait for postponed discussions on the US debt ceiling to resume.
Read more15 May 2023 07:09
Apollo pulls plans for Wood Group bid
(Sharecast News) - Shares in Wood Group plunged by more than a third on Monday as US private equity firm Apollo Global pulled plans to make a takeover offer for the UK oil industry engineer.
Read more11 May 2023 09:51
John Wood notes good momentum across all units in first quarter
(Alliance News) - John Wood Group PLC on Thursday said it was trading in line with expectations in the first quarter of 2023, but added that it was mindful of the uncertain economic backdrop moving forward.
Read more11 May 2023 07:03
Wood Group holds guidance as Q1 revenues grow
(Sharecast News) - Oil and gas engineer Wood Group, currently in talks on a potential $1.6bn takeover by private equity group Apollo, held annual guidance as first quarter revenues increased.
Read more4 May 2023 16:11
UK shareholder meetings calendar - next 7 days
| Friday 5 May | |
| abrdn Smaller Companies Income Trust PLC | AGM |
| Holders Technology PLC | AGM |
| HSBC Holdings PLC | AGM |
| InterContinental Hotels Group PLC | AGM |
| James Fisher & Sons PLC | AGM |
| Man Group PLC | AGM |
| Rightmove PLC | AGM |
| UK Oil & Gas PLC | AGM |
| Monday 8 May | |
| no events scheduled | |
| Tuesday 9 May | |
| Caledonia Mining Corp PLC | AGM |
| Direct Line Insurance Group PLC | AGM |
| Foxtons Group PLC | AGM |
| Hostelworld Group PLC | AGM |
| IWG PLC | AGM |
| Just Group PLC | AGM |
| Midwich Group PLC | AGM |
| Osirium Technologies PLC | AGM |
| Windward Ltd | AGM |
| Wednesday 10 May | |
| abrdn PLC | AGM |
| Antofagasta PLC | AGM |
| Cenkos Securities PLC | AGM |
| Ecora Resources PLC | AGM |
| H&T Group PLC | AGM |
| Harbour Energy PLC | AGM |
| Jupiter Fund Management PLC | AGM |
| Literacy Capital PLC | AGM |
| Luceco PLC | AGM |
| Marshalls PLC | AGM |
| National Express Group PLC | AGM |
| Renewables Infrastructure Group Ltd | AGM |
| Rentokil Initial PLC | AGM |
| Seplat Energy PLC | AGM |
| Spirax-Sarco Engineering PLC | AGM |
| TClarke PLC | AGM |
| Thursday 11 May | |
| 88 Energy Ltd | AGM |
| Cairn Homes PLC | AGM |
| Capita PLC | AGM |
| Clarkson PLC | AGM |
| Costain Group PLC | AGM |
| Eleco PLC | AGM |
| Eurocell PLC | AGM |
| FBD Holdings PLC | AGM |
| Genedrive PLC | GM re Equity Prepayment Facility |
| Genel Energy PLC | AGM |
| Gresham House PLC | AGM |
| Gym Group PLC | AGM |
| Hiscox Ltd | AGM |
| Irish Continental Group PLC | AGM |
| John Wood Group PLC | AGM |
| MyHealthChecked PLC | AGM |
| OSB Group PLC | AGM |
| Poolbeg Pharma PLC | AGM |
| Rolls-Royce Holdings PLC | AGM |
| Serinus Energy PLC | AGM |
| Uniphar PLC | AGM |
| Videndum PLC | AGM |
| WAG Payment Solutions PLC | AGM |
| Copyright 2023 Alliance News Ltd. All Rights Reserved. | |
21 Apr 2023 08:40
UPDATE: Network International jumps on takeover battle
(Alliance News) - Network International Holdings PLC on Friday confirmed that it has received another takeover offer, this time from Brookfield Asset Management Ltd.
Read more20 Apr 2023 14:21
17 Apr 2023 17:37
Consumer staples boost FTSE 100; banks limit gains
John Wood Group gains on Apollo Management's buyout deal
*Read more