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Wood Group (J) Information
Share Price Information for Wood Group (J) (WG.)
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Share Price:
185.10
Bid:
185.00
Ask:
185.40
Change:
5.10 (2.83%)
Spread:
0.40 (0.216%)
Open:
178.00
High:
187.30
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."
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17 Apr 2023 09:41
STOXX hits 14-month high
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STOXX HITS 14-MONTH HIGH (0835 GMT)Read more17 Apr 2023 09:15
TOP NEWS: John Wood jumps amid takeover talks with Apollo
(Alliance News) - John Wood Group PLC on Monday said it has decided to engage with Apollo Management Holdings LP to see if a firm takeover offer can be made by the private equity firm on the same financial terms as Apollo's last proposal.
Read more17 Apr 2023 09:05
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Read more17 Apr 2023 07:45
European futures edge higher
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EUROPEAN FUTURES EDGE HIGHER (0639 GMT)Read more17 Apr 2023 07:04
Wood Group opens talks with Apollo on possible £1.6bn bid
(Sharecast News) - Shares in Wood Group surged on Monday after the oil and gas engineering firm said it had decided to start talks with US private equity group Apollo on a potential £1.66bn takeover.
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IN BRIEF: John Wood notes possible offer by Apollo for share capital
John Wood Group PLC - Aberdeen, Scotland-based energy sector-focused engineering and consulting business - Notes announcement by Apollo Management Holding LP of a possible offer for the entire share capital of the company at a final price of 240 pence per share in cash. The offer represents a 59% premium to the closing price of 151p, and a 20% premium to the initial proposal submitted to Wood of 200p per share in cash. It follows news that Apollo's last offer of 237p was privately rejected by the board of Wood.
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