Wood Group (John) PLC
11 January 2005
John Wood Group PLC: Trading Update
John Wood Group PLC, the international energy services company, issues the
following pre-close period trading update in relation to the year ended 31
December 2004. The preliminary announcement of the results for the year will be
made on 8 March 2005.
The Board anticipates that the Group's EBITA for 2004 will be in line with
expectations.
In Engineering & Production Facilities, Engineering continues to win a high
market share of the currently reduced deepwater market and is increasing its
presence in other upstream as well as midstream and downstream areas. Production
Facilities continues to benefit from the increased international spend by oil
and gas companies as they seek to prolong and enhance production, and is further
investing to broaden its international reach. Well Support continues to perform
strongly with increasing activity levels, particularly in North and South
America, Asia Pacific and Russia. In Gas Turbine Services, the difficult US
power market conditions appear to have stabilised and the programme of cost
reductions and efficiency improvements announced earlier this year is delivering
the anticipated benefits.
Sir Ian Wood, Chairman and Chief Executive, said, '2004 has been a challenging
year for part of our business, but corrective actions have been taken and we
continue to be confident of a return to acceptable growth in 2005'.
- ends -
For enquiries please contact
Wood Group
Alan Semple Finance Director +44 (0) 1224 851000
Nick Gilman Investor Relations
Carolyn Smith Corporate Communications
Brunswick
Patrick Handley/ Nina Coad + 44 (0) 20 7404 5959
This information is provided by RNS
The company news service from the London Stock Exchange
*A Private Investor is a recipient of the information who meets all of the conditions set out below, the recipient:
Obtains access to the information in a personal capacity;
Is not required to be regulated or supervised by a body concerned with the regulation or supervision of investment or financial services;
Is not currently registered or qualified as a professional securities trader or investment adviser with any national or state exchange, regulatory authority, professional association or recognised professional body;
Does not currently act in any capacity as an investment adviser, whether or not they have at some time been qualified to do so;
Uses the information solely in relation to the management of their personal funds and not as a trader to the public or for the investment of corporate funds;
Does not distribute, republish or otherwise provide any information or derived works to any third party in any manner or use or process information or derived works for any commercial purposes.
Please note, this site uses cookies. Some of the cookies are essential for parts of the site to operate and have already been set. You may delete and block all cookies from this site, but if you do, parts of the site may not work. To find out more about the cookies used on Investegate and how you can manage them, see our Privacy and Cookie Policy
To continue using Investegate, please confirm that you are a private investor as well as agreeing to our Privacy and Cookie Policy & Terms.