Wood Group revenue climbs

Wood Group posted a revenue of $7,616.4m in 2014, up 7.8% compared to the year before.

The company’s EBITA was at $549.6m, a rise of 3.1% as compared to 2013.

Performance was  in line with Wood Group’s expectations, led by strong growth in Wood Group PSN Production Services, the company said in a statement on Tuesday.

“The Group performed well in 2014, delivering in line with expectations against a backdrop of a steep decline in oil price towards the end of the year,” Ian Marchant, Chairman of Wood Group said.

“In line with our focus on customer efficiency, we are also implementing internal cost and efficiency measures to ensure we remain competitive.”

“As we look to 2015, we expect financial performance to demonstrate the quality of our people and the relative resilience of our business in a challenging market, and we will see the full year benefit from completed acquisitions,” he concluded.

Image: Wood Group