Learn more

By Rupert Hargreaves Wood Group has today published an upbeat trading update for the quarter ended 31 March 2024, hours after it emerged the company had rejected a bid from Dubai-based rival, Sidara. The Aberdeen-based company said its adjusted earnings before interest, tax, deprecation and amortisation (EBITDA) for the period grew four per cent helped by “margin expansion across all of our business units offsetting lower revenue.” Revenue fell six per cent to $1.36bn (£1.1bn). Wood said this reflected lower project revenue and in line with its strategic shift. At the end of March, the company…

cuu