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Wood Group total revenue went down 19.3%

Staff writer ▼ | August 19, 2015
Wood Group plc reported that its total revenue went down 19.3% at $3,069 million (2014: $3,801.2) and total EBITA was down 7.4% at $225.9 million (2014: $243.9 million) against a backdrop of reduced activity throughout the oil services sector.
Wood Group
Wood Group   Total EBITA was down 7.4%
Total EBITA margin was 7.4% (2014: 6.4%) benefitting from overhead costs savings of $40m. Outlook in unchanged for 2015 and the company anticipate full year EBITA in line with expectations.

Revenue from continuing operations on an equity accounting basis was down 17.6% at $2,656.9 million (2014: $3,224.4 million). Profit from continuing operations on an equity accounting basis before tax and exceptional items was down 14.3% at $156.3 million (2014: $182.4 million). Adjusted diluted EPS of 40.1 cents (2014: 44.4 cents), down 9.7%.

Interim dividend of 9.8 cents (2014: 8.9 cents) was up 10.1%, in line with intention to increase the dividend per share by a double digit percentage from 2015 onwards .Net debt, including JVs, was $277.2 million (2014: $427.4 million).


 

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