Wood Group, an international energy services company with over $7bn sales, released its half year results for the six months ended 30 June 2014. The Group has two reporting segments – Wood Group Engineering and Wood Group PSN – providing a range of engineering, production support and turbine services to the oil & gas, and power sectors.
Financial Summary
Segmental Highlights
Wood Group Engineering
Group PSN Production Services
Turbine Activities
Bob Keiller, CEO commented:
“We have seen strong performance in our PSN Production Services activities in the US shale market, offset by an anticipated lower contribution from Upstream Engineering and weaker than expected performance in our Turbine Activities. Overall, the outlook for the Group for the year remains unchanged from the position outlined at our December 2013 trading update; we continue to anticipate full year EBITA to be in line with expectations and up on 2013, led by growth in PSN Production Services.”
Press Release, August 19, 2014