11th Jan 2005 07:00
Wood Group (John) PLC11 January 2005 John Wood Group PLC: Trading Update John Wood Group PLC, the international energy services company, issues thefollowing pre-close period trading update in relation to the year ended 31December 2004. The preliminary announcement of the results for the year will bemade on 8 March 2005. The Board anticipates that the Group's EBITA for 2004 will be in line withexpectations. In Engineering & Production Facilities, Engineering continues to win a highmarket share of the currently reduced deepwater market and is increasing itspresence in other upstream as well as midstream and downstream areas. ProductionFacilities continues to benefit from the increased international spend by oiland gas companies as they seek to prolong and enhance production, and is furtherinvesting to broaden its international reach. Well Support continues to performstrongly with increasing activity levels, particularly in North and SouthAmerica, Asia Pacific and Russia. In Gas Turbine Services, the difficult USpower market conditions appear to have stabilised and the programme of costreductions and efficiency improvements announced earlier this year is deliveringthe anticipated benefits. Sir Ian Wood, Chairman and Chief Executive, said, "2004 has been a challengingyear for part of our business, but corrective actions have been taken and wecontinue to be confident of a return to acceptable growth in 2005". - ends - For enquiries please contactWood Group Alan Semple Finance Director +44 (0) 1224 851000Nick Gilman Investor RelationsCarolyn Smith Corporate Communications BrunswickPatrick Handley/ Nina Coad + 44 (0) 20 7404 5959 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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