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Prices & Quotes - UK Markets - Wood Group (John) (WG.)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Down 296.60p
Change Today:
-2.10p
Market Cap:
2,031.53m
Sector:
Oil Equipment, Services & Distribution

Wood Group sees 19% fall in interim earnings

By Frank Prenesti

Date: Friday 19 Jun 2020

LONDON (ShareCast) - (Sharecast News) - Wood Group said it expected a 19% fall in first half core earnings as the coronavirus pandemic hammered the oil and gas sector.
The energy industry engineer said adjusted earnings before interest, tax, depreciation and amortisation in a range of $295m - $305m and operating profit before exceptionals of around $80m - $90m. Like-for-like revenue was down around 11%.

The order book at the end of May was $7bn, down about 11% since December 2019, of which about $3.5bn was due to be delivered in 2020, Wood said on Friday, adding that margins contracted by 70 basis points on a like-for-like basis.

"The global engineering and consultancy market is facing unique and unparalleled challenges in 2020 from Covid-19 and volatility in oil prices," said chief executive Robin Watson.

"The relative strength we are seeing in chemicals & downstream, the built environment and renewables, where we will double our revenues in 2020, is helping to mitigate the impact of challenging conditions in upstream and midstream oil & gas."

Wood said it had made taken measures in the second quarter that were expected to deliver more than $200m in full year overhead cost savings.

The company added that it had a strong balance sheet and liquidity and expected a fall in net debt at June 30 from $1.43bn at December 2019 after first quarter disposals.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

WG. Market Data

Currency UK Pounds
Price 296.60p
Change Today -2.10p
52 Week High 421.70p
52 Week Low 135.45p
Volume 2,263,585
Shares Issued 684.94m
Market Cap 2,031.53m

Performance Indicators

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What The Brokers Say

Strong Buy 9
Buy 0
Neutral 2
Sell 0
Strong Sell 0
Total 11
strong_buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

WG. Dividends

  Latest Previous
  Interim Final
Ex-Div 29-Aug-19 25-Apr-19
Paid 26-Sep-19 16-May-19
Amount 11.40¢ 23.70¢

Trades for 27-Nov-2020

Time Volume / Share Price
16:35 1,396,467 @ 296.60p
16:29 3 @ 291.10p
16:29 5 @ 291.10p
16:29 1 @ 291.10p
16:29 40 @ 291.10p

WG. Key Personnel

CEO Robin Watson
CFO David Kemp
Chair Roy Franklin