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BUZZ-Wood Group: Backs FY forecast and plans to raise dividend

Wed, 13th May 2015 07:36

** Oilfield service provider's shares up as much as3.4 pct and poised for a third successive day of gains

** Expects full-year EBITA to be in line with marketexpectations and still intends to increase dividend by doubledigit percentage from this year

** Stock among top gainers on the FTSE midcap index

** Co's JV with Massy Holdings gets $250 mln contract forBP's operations in Trinidad and Tobago

** Downstream segment helped by lower commodity prices,offsetting continuing subdued activity in upstream

** "Although we still see a number of projects beingdeferred we remain encouraged by the high volume of early stagework as customers look to re-engineer projects with a view toimproving project economics" (abhiram.nandakumar.thomsonreuters.com@reuters.net)

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