AGM and Interim Management Statement

John Wood Group PLC ("Wood Group"), the international energy services company, issues the following IMS which the Chairman, Sir Ian Wood, will deliver at the AGM, today, 12 May. A trading update for the six months to 30 June 2010 will be provided on 1 July 2010. Market conditions remain broadly consistent with those outlined in our 2009 results announcement on 2 March 2010. We are continuing to deliver a robust overall performance from our production support related activities, and the Group's performance in the year to date is in line with expectations. In our development related Engineering business, volumes continue to be impacted by project delays and we expect 2010 revenues to be down on 2009. The largest reduction is in the downstream, process and industrial area, where the market is expected to remain soft throughout 2010. In upstream, we have a good prospect list and anticipate seeing an increase in volumes later in 2010 and into 2011. Subsea and pipeline activities continue to enjoy good levels of business. We have now completed the acquisition of a controlling interest in Al-Hejailan Consulting, a Saudi Engineering company, and expect further progress over the coming months on our growth initiatives in Africa, Asia Pacific and the Middle East. In Production Facilities, we are seeing good activity across our longer term contracts in the North Sea and have agreed contract extensions with Total and Hess. We are seeing an increasing level of international opportunities and have recently secured a contract extension with Brunei Shell Petroleum. Our Australian business is developing well and new joint venture, focused on the coal seam methane market, has recently won its first long term operations support contract. In Well Support, our Electric Submersible Pump and Pressure Control businesses continue to develop their international activities, including strengthening their position in the Middle East, Africa and Latin America. US gas related activities in Pressure Control and Logging Services are benefitting from cost reductions implemented in 2009 and from increased volumes as a result of the higher US rig count. In Gas Turbine Services, we expect to see reasonable overall demand for our oil & gas and power aftermarket services for the year, but the maintenance deferrals experienced in 2009 are continuing into the first half. In Power Solutions, we are tracking a number of opportunities and expect we will see project awards later in the year. Overall in 2010, we expect the GTS EBITA contribution to be weighted to the second half. Our financial position remains strong and we anticipate good operating cash flow for the year. We continue to pursue a number of bolt-on acquisition opportunities to expand our geographic footprint in key growth markets. Overall, we believe that our 2010 performance will be in line with expectations. Looking further ahead, we believe the fundamentals for oil & gas services and gas fired power generation remain strong and we are well positioned to deliver good longer term growth. - ends - Notes to editors: Wood Group is an international energy services company with $5bn revenues, employing more than 28,000 people and operating in 50 countries. The Group has three businesses - Engineering & Production Facilities, Well Support, and Gas Turbine Services - providing a range of engineering, production support, maintenance management and industrial gas turbine overhaul and repair services to the oil & gas, and power generation industries worldwide. www.woodgroup.com For further information contact: Wood Group Nick Gilman / Carolyn Smith 01224 851 000 Brunswick Patrick Handley 020 7404 5959
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