Wood Group (John) plc

John Wood Group Well positioned to unlock growth opportunities

DirectorsTalk Interviews FTSE 250

John Wood Group PLC (LON: WG.) is hosting a Capital Markets Presentation for analysts and investors today. The presentation will provide an insight into Wood’s strategic objectives over the medium term, looking at the macro trends and key growth drivers in the markets that will shape the business. Robin Watson, Chief Executive, will present on Wood’s strategy and positioning, including …

Wood Group (John) plc

John Wood Group PLC Delivering significant growth in operating profit and margin improvement

DirectorsTalk Interviews FTSE 100

John Wood Group PLC (LON: WG.) have today provided the following pre-close trading update for the six months to 30 June 2019. “Our first half performance is ahead of prior year. We have delivered significant growth in operating profit together with EBITDA margin improvement. This has been led by our activities in energy markets in the eastern hemisphere and our …

Wood Group (John) Plc wins $1bn nuclear engineering design contract

DirectorsTalk Interviews FTSE 100

Wood Group (John) Plc (LON:WG) has secured a new contract worth up to $1 billion to provide engineering design services to Sellafield Ltd over the next 20 years. The company has been selected as Design and Engineering Partner at the UK’s most complex nuclear site as part of the new Programme and Project Partners (PPP) procurement model. Sellafield Ltd has described …

Wood Group (John) plc

Wood Group (John) Plc closes sale of Terra Nova Technologies

DirectorsTalk Interviews FTSE 100

Wood Group (John) Plc (LON:WG) today confimeds it has completed the sale of conveyor systems business Terra Nova Technologies (TNT), as originally announced on 25 March. Following a strategic review of its portfolio, Wood identified potential asset disposals which are expected to generate proceeds in the range of c$200m-c$300m. This transaction makes a good contribution to the asset disposal programme. …

Wood Group (John) Plc awarded new contract by Evonik

DirectorsTalk Interviews FTSE 100

Wood Group (John) Plc (LON:WG) has been awarded a new contract by Evonik to deliver engineering, procurement and construction management (EPCM) services for the Group’s new polyamide 12 (PA12) production complex, to be built at the Marl Chemical Park, Marl, Germany. PA12 is a high-performance polymer for special applications employed across various end markets including the automotive industry, oil & …

Wood Group (john) Plc Disposal of non-core conveyor systems business

DirectorsTalk Interviews FTSE 100

Wood Group (john) Plc (LON:WOOD) today announced further progress with its non-core asset disposal programme having agreed the sale of its Terra Nova Technologies business, a conveying and material handling systems solutions business, to Cementation Americas, a business owned by Murray & Roberts Holdings Ltd. Cash proceeds in respect of the disposal will be $38m, representing a multiple of 5.2x …

Wood Group (John) Plc Return to growth and delivered strong operational cash generation

DirectorsTalk Interviews FTSE 100

Wood Group (John) Plc (LON:WG), today announced full year results for the year ended 31 December 2018. “Wood delivered good organic growth in 2018. We completed the integration of AFW at pace, increased cost synergy targets by 24% and unlocked new opportunities across our broader range of capabilities and sectors to secure revenue synergies of over $600m. We have delivered …

Wood Group (John) plc

John Wood Group PLC awarded construction contract from Siemens

DirectorsTalk Interviews FTSE 100

John Wood Group PLC (LON:WG) has secured a contract from Siemens to install a new Siemens HL-class gas turbine at a power generating station in North Carolina. The award will see Wood mobilize a team of around 400 people to the project site to deliver this notable construction project for a period of approximately 11 months. Andrew Stewart, Wood’s Asset …

Wood Group (John) plc

Wood Group (John) Plc Disposal of Interests in Non-Core Assets generate cash proceeds of around $54m

DirectorsTalk Interviews FTSE 100

Wood Group (John) Plc (LON:WG) today announced further progress with its non-core asset disposal programme, having agreed in December 2018 the sale of the following shares in joint ventures: · 25% share in RMS A13 Holdings Ltd; a UK roadways concession; · 52% share in Power Machinery Ltd; a China based fabrication and manufacturing facility; and · 41.65% share in …

Wood Group Plc Secures $53m of contracts with ADNOC Onshore

DirectorsTalk Interviews FTSE 100, News

Wood Group (John) Plc (LON:WG.) has been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC).

Project management consultancy (PMC) services will be provided for major projects across the company’s onshore fields in Abu Dhabi, aimed at supporting ADNOC’s group-wide production capacity target of 4 million barrels of oil per day by 2020.

Creating around 100 new jobs in-country, the five-year contracts have one-year extension options available.

This win builds on Wood’s successful track record of partnering with ADNOC, which spans over 40 years and has included multiple, significant PMC projects.

Dave Stewart, CEO of Wood’s Asset Solutions business in Europe, Africa, Asia and Australia said: “Wood has a strong foothold in the Middle East and our strategic focus on continuing to broaden the capabilities we deliver to the oil and gas market in this region is