Wood Group confirmed full-year guidance last month as it reported good trading in the first half of the year across all business units.
Revenue in the six months to June 30, 2023, was around US$2.9bn, up 15%, while underlying profits [adjusted EBITDA] of US$195mln, were 6% higher.
The FTSE 250 engineering group said it expects to generate positive free cash flow in the second half of 2023 and remains on track to deliver positive free cash flow in 2024, as previously guided.
The order book as of June 30 was around US$6bn.
Private equity firm Apollo walked away after making several approaches earlier in the year, the last one worth 240p per share.
With the shares now languishing a little at 148p, management might be feeling some pressure to justify why they refused to engage.