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John Wood Group Begins Strategic Review Of Its Built Environment Business - Quick Facts

John Wood Group PLC has started a strategic review of the part of its Consulting business facing the built environment end market. The scope of the review will consider a range of options to best unlock value from this part of the business for shareholders, the Group said.

John Wood Group said, overall, it expects to deliver improved revenue and earnings in the second half of 2021 relative to first half of 2021. The Group noted that the rate of recovery in projects has been slower than anticipated largely due to the deferral of activity and awards into 2022. Full year revenue is anticipated to be approximately $6.4 billion. Adjusted EBITDA margin is projected to be 8.5% to 8.7%.

The Group said the working capital impact of lower than anticipated EPC awards together with deferred activity will result in higher than previously anticipated full year net debt, which it expects to be broadly in line with first half of 2021.

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