Wood Group Sees Profits Decline in Tough Oil & Gas Sector

SUGAR LAND--August 23, 2017--Researched by Industrial Info Resources (Sugar Land, Texas)--International engineering firm John Wood Group plc (LON:WG) (Aberdeen, Scotland) on Monday reported an 87% decline in profits for the first half of 2017 compared to 2016. Profits fell from $45 million in first-half 2016 to $6 million in the corresponding period of 2017. The company nevertheless maintains that it will see improvements in the second half of the year, due to some projects underway and its planned acquisition of Amec Foster Wheeler plc (London, England). Industrial Info is tracking more than $83.7 billion in projects involving Wood Group.

Within this article: Details of Wood Group projects

Other companies featured: BP plc (NYSE:BP), Hess Corporation (NYSE:HES)