John Wood Group Turns To Profit In H1, Orders Rise; Sees Higher FY22 Revenues

John Wood Group Plc (WG.L,WDGJF.PK), a British engineering and consulting firm, reported Tuesday that its first-half profit was $89 million, compared to last year's loss of $11 million.

Basic earnings per share were 13.0 cents, compared to loss of 1.7 cents last year.

Adjusted earnings per share were 5.7 cents, compared to 8.9 cents in the prior year.

Adjusted EBITDA was $185 million, down 5.1 percent from the prior year.

Revenue edged down 0.4 percent to $2.56 billion from prior year's $2.57 billion.

Order book, however, grew 4.7 percent to $6.42 billion from $6.13 billion a year ago.

Looking ahead, the company said it continues to expect higher revenue across business this year and an improved performance in the second half, helped by an improvement in Turbines joint ventures.

At 30 June 2022, revenue in order book from continuing operations for the second half of 2022 was $2.5 billion, an increase of 9 percent compared to the prior year equivalent figure of $2.3 billion.

For fiscal 2022, excluding Built Environment Consulting, Revenue is expected between $5.2 billion and $5.5 billion and adjusted EBITDA between $370 million and $400 million.

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