6th Jul 2005 07:00
Wood Group (John) PLC06 July 2005 John Wood Group PLC ('Wood Group")Pre-close period trading update for the six months to 30th June, 2005 Wood Group has made good progress in the first half of the year in a strongglobal oil and gas market. The six month results will be released on 13thSeptember, 2005. In Engineering & Production Facilities, Engineering has had a good first halfwith a healthy mix of deep and shallow water upstream awards and strongeractivity in our downstream business; new contract awards include Valhall inNorway, East Area Gas in Nigeria, Gorgon in Australia and Telemark in the Gulfof Mexico. In Production Facilities, the North Sea market is strong and we havecontinued our very active business development drive into new regions around theworld. All three Well Support businesses have seen good growth in the first halfbenefiting from strong US and international markets. ESP continues to expand inRussia and their new Chad contract has started up successfully. Wood GroupPressure Control has picked up further contracts in Mexico, is making goodprogress in the Middle East and is continuing to develop its Chinesemanufacturing capabilities. In Gas Turbines, the US power market remains difficult but more stable. Ourrecovery programme is on course and we are increasing our differentiationthrough the sale of re-engineered parts and growing the number of longer termcontracts, including our first maintenance contract for advanced technologyturbines. Overall, we are confident of a return to acceptable growth in 2005 and nowexpect to be somewhat ahead of expectations. Our six month results will be prepared under International Financial ReportingStandards (IFRS) and we are providing a brief update today (see separateannouncement) on the main areas of impact. For enquiries please contact Wood Group +44 (0) 1224 851000Alan Semple Finance DirectorNick 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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