30th Jun 2016 06:50
LONDON (Alliance News) - John Wood Group PLC on Thursday said it is still expecting for earnings to be around 20% lower in 2016 compared to last year but reiterated its commitment to deliver a significantly higher dividend for the year.
"We expect financial performance in the first half of 2016 to demonstrate the benefits of: our asset light, predominantly reimbursable business model; our attention to management of utilisation; and significant overhead cost savings from reorganisation, delayering and back office rationalisation," said John Wood.
"Overall the outlook for the full year has not changed and there is no change to earnings before interest, tax and amortisation guidance of around 20% down on 2015 as given in May," the company added.
John Wood said it still plans to increase its dividend for the full year by a "double digit percentage".
By Joshua Warner; [email protected]; @JoshAlliance
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