John Wood Group Plc (WG.L,WDGJF.PK) said it has delivered good growth in the year to date.
The company noted that its Engineering division continues to perform well, delivering revenue growth and margin improvement which is expected to result in full year EBITA up around 30% on 2011. In upstream, Wood Group is seeing high activity levels supported by a good order book and future prospects. Further, in downstream, process and industrial, performance continues to be impacted by
lower expenditure in the refining market in North America.
In Wood Group PSN the company continues to expect improved performance over 2011. In Wood Group GTS, the company forecasts good growth in EBITA for the year, weighted to the second half.
Going forward, the company remains confident of achieving full year performance in line with expectations.
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by RTT Staff Writer
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