John Wood Group PLC (LON:WG. has reported a 25% improvement in revenue, at US$6.16mln for the year ended 31 December 2017 from US$4.93mln from the previous year.
Earnings (EBITDA) increased slightly, up 2.5% to US$372mln, though the oil services company reported a US$30mln loss for the period. The company confirmed a dividend of 34.3 cents per share, up 3% from the preceding year.
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Robin Watson, Wood Group chief executive, said: “2017 was a year of transformational strategic development. The acquisition of Amec Foster Wheeler in October brought together two businesses and three brands to create Wood, a global leader in project, engineering and technical services delivery.
“We are a broader business with multi-sector, full service capability across energy and industrial markets and a stronger, more balanced offering in oil & gas. Integration is progressing ahead of schedule with initial cost synergies achieved earlier than plan.
Watson added: “Financial performance for 2017 is in line with guidance. I am confident we have a unique platform to unlock revenue synergies and generate good longer term growth.”