Wood Group reported improved revenues and profits in 2018 as it benefited from higher activity levels across all of its business units. The oil services and engineering firm added that it expects to take advantage of further growth emerging in a broad range of energy and industrial markets. Revenues increased by 12% to $11 billion from 2017 on a pro forma basis, taking into account the company’s acquisition of Amec Foster Wheeler in October 2017. Operating profit improved by 5% to $630 million. Analysts said the results were modestly greater than expected, although Wood Group’s share price was down 8.1% at market close in London Tuesday.
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