19th Dec 2005 07:01
Wood Group (John) PLC19 December 2005 John Wood Group PLC: 2005 Trading Update John Wood Group PLC ("Wood Group"), the international energy services company,issues the following pre-close period trading update for the year ended 31December 2005. The preliminary announcement of the results for the year will beon 6 March 2006. Wood Group is pleased to confirm good progress in 2005 in a healthy global oil &gas market. The Board anticipates that Group financial performance will be inline with expectations, with growth in all three divisions. In Engineering & Production Facilities, the demand for Engineering is strongacross upstream, midstream and downstream and our international development iscontinuing with a range of contract wins in Africa, Asia Pacific, and SouthAmerica. In Production Facilities, the North Sea has been particularly activeand we are continuing to invest in broadening our international reach, includingdeveloping our regional presence in South America, the FSU, Africa, the MiddleEast and Asia Pacific. Well Support continues to perform strongly, with increased activity levels inall three businesses. We are continuing to focus on international growth and ondeveloping our supply chain, including the extension of our Pressure Controlmanufacturing capabilities, to meet growth in demand for our products andservices. An example of our international success is the $120m ESP contractextension for PanAmerican in Argentina announced today. In Gas Turbine Services, our oil and gas operations continue to make progress,and the US power market is more stable. In Heavy Industrial Turbines, we areexpanding our range of re-engineered parts and winning more long term serviceagreements including contracts with Sacramento Municipality Utility DistrictFinancing Authority and Alliant Energy Corp. Sir Ian Wood, Chairman and Chief Executive, said, "I am pleased to confirm ourconfidence in achieving strong growth in 2005. Looking into 2006, our positionin key markets and active investment programme should ensure we delivercontinuing good growth." Wood Group is an international energy services company with $2.3bn sales,employing more than 14,000 people worldwide and operating in 36 countries. TheGroup has three businesses-Engineering & Production Facilities, Well Support,and Gas Turbine Services-providing a range of engineering, production support,maintenance management and industrial gas turbine overhaul and repair servicesto the oil & gas, and power generation industries worldwide. For further information contact: Wood Group 01224 851000 Alan Semple Finance Director Nick Gilman Investor Relations Manager Carolyn Smith Corporate Communications Manager This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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