RE: Support23 Aug 2022 14:29
Adam Vettese, an analyst at investment platform eToro, said: 'Given the company's disappointing cash flow position and elevated debt levels, we think it is unlikely to resume its dividend until at least next year – and possibly longer.
'It might surprise shareholders that Wood has not been able to capitalise on the rocketing price of oil and gas over the past year.
'However, reading new CEO Ken Gilmartin's words in this latest update, it feels like this is a firm that is very much in transition and one that is developing a plan to reinvigorate its performance.'