John Wood Group Sees Decline In Adj. EBITDA For H1; Expects Strong Growth In FY22

John Wood Group Plc (WG.L), a British engineering and consulting firm, said in trading update on Thursday that it sees a decline in adjusted EBITDA for the first half.

However, it expects a strong performance for the full year, supported by the continued growth in the order book and improved performance in its turbines joint ventures and stronger revenue growth, particularly in its projects business.

For the six-month period, the company expects to post its adjusted EBITDA at around $250 million, versus $262 million of previous year.

Adjusted EBITDA margin projected to be at around 7.9 percent as against 8.3 percent, posted a year ago.

Reflecting a rise in amortization charge, Wood's operating profit before exceptional is expected to touch $95 million, higher than $86 million, on year-on-year basis.

The engineering firm also sees to register an order book growth of 18 percent, year-over-year basis, and 5 percent for year to date period to circa $8.1 billion at May 31.

For the first half, the company sees its revenues to be around $3.2 billion, compared with $3.15 billion reported a year ago, with strong growth in consulting and operations partially offset by a decline in projects.

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