4th Oct 2013 06:49
LONDON (Alliance News) - John Wood Group PLC Friday said its business in Western Canada remains "subdued" but the company is still expected to achieve a full-year performance in line with expectations.
In an interim management statement, the oil and gas services company said its engineering arm is performing well and is expected to deliver earnings before interest, taxation and amortisation (EBITA) growth of around 10 - 15%.
Upstream, the company's oil projects are making a good contribution and remain on schedule to be completed around the year-end, while in subsea and pipelines, Wood Group said it is seeing good activity across its principal hubs.
The company's brownfield services divisions, PSN, has seen growth driven by its US onshore shale related business and contract renewals.
EBITA for the turbine maintenance, repair and overhaul is expected to be slightly ahead of 2012. Maintenance performance is benefiting from cost reduction initiatives, particularly in its power plant services business.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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