Engineering services firm John Wood Group rose on Friday morning after revealing encouraging trading at its three main divisions in the six months to the end of June.
The firms says the engineering unit will deliver revenue and margin improvements, resulting in a 30% boost to earnings before interest, tax and amortisation (EBITA).
In the Production Services Network division (PSN), which operates in the oil and gas sector, Wood Group simply says it has seen "improved performance over 2011".
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
At Wood Group GTS, which makes provides maintenance and repair services for turbines the firm says it will see EBITA growth, although weighted to the second half.
By 09:12 the stock had risen 2%.
BS
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
