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Not a great update today IMO. Pretty flat and nothing to get the share price moving although its another update without any surprises which is unusual for this one!!!

Share price back to what it roughly was before the Apollo bid but can't see Apollo coming back on this one - they have moved on and have the experience and cost of the previous foray into Wood.

Trading update on the 9th November may however change that. I still think the SP is low but the market seems to dictate otherwise and updates will only keep it where it is - we need something more to get this one moving.

All IMHO as always

Finding it hard to keep the faith with this one at the moment. rest of my portfolio is doing great over the last week or so but this one seems to buck that trend and general market sentiment. Looks like it will stutter about until the next update or some good news on contracts etc.

Markets are a bit crazy at the moment with relatively large swings in share price. Wood still has a way to go to gain back market confidence and although results recently and some pretty good contract awards I suspect the 2023 full year results will be watched closely as their revenue etc. is back end loaded.

As for another suitor - absolutely no idea. Still an attractive target at this level but Apollo saga still in potential buyers mind I suspect.

All just my opinion of course

"Wood has been selected as a preferred bidder on Scottish and Southern Electricity Network (SSEN) Transmission’s Accelerated Strategic Transmission Investment (ASTI) framework. This investment will support the upgrade of the onshore power transmission infrastructure to support future energy demand."

Thanks - the debt is in line with their projection at mid year.

It's a long long time since Wood posted numbers with no surprise and above expectations. Fundamentally I think they are through the worst of the transition away from oil and gas and skeletons have been cleared out from legacy contracts etc. Market is crazy at the moment and may of course see things differently but I think the results are strong and will help stabilise the share price if nothing else

Didn't they already signal this increase in debt?

MaryBr190

All good headline stuff but personally I would like to see some awards which contain stated scope and value. The last few awards have been headliners for sure but they are all "framework" or "MoU" awards which may or may not add significant revenue.

Just my thoughts really - not trying to downplay these strategic awards merely saying we should not anticipate great financial contributions from them in the short/medium term

There's no value on the Shell piece as it's a Framework Agreement. Essentially a call off which of course means value could be little or a lot depending on work Shell releases under it.

And major carbon capture project green lighted on their doorstep which should bode well for them given their experience in this area.

Coaster

I think the negativity is bred out of the past with this one. Too many surprises which granted were under different management but the current BOD needs to prove itself especially to all the long term holders who have been burned in the past.

Just my opinion of course but on the back of me being a born pessimist!!

Indeed - I believe they also stated cash flow positive by end 2023 in their market update last week. They may still be considering selling some more of the business. Overall however I quite liked the art update - lot more positive tone and they believe their strategy is moving them in the right direction but a ways to go yet

I suspect it's actually a "hope" rather than a guess !!!

Pretty much as they said it would be and no surprises which is a big step forward. Strategy seems to be working and now planning cash positive in Q2 which is good. Don't think it will add much to the upside but should keep it steady.

Trading update tomorrow will set the scene on movement for the next few months

I don't think its the £ value of the win it's the fact this is an extension to existing work. They really need large new contracts, preferably with new clients, to move the needle significantly on the share price

At this rate we will be testing 52 week lows before long

Regardless of FIL buying and the fact the director sell is probably tax related there is still a lot of selling on this one. Being the pessimist I am I think their update next month will be lack lustre. They gave a heads up the year is back end loaded and there have been no significant news on awards etc. I reckon we are down below 120p before long. its trying hard to hold the 130p level but if there is still significant selling at that level so IMHO its not going to hold there

CFO sold some on 12th at 135p. With update due next month I'm not so sure thats a good sign and would have thought directors of the company were locked out from trading this close to a market update.

Not a lot of investors heading there advise going by the sells we are seeing over the last few days! The SP is bound around the 139p mark.

Really need some news from Wood for this to move in either direction but I think that's unlikely before there mid year update next month