Oilfield Services Provider Wood Group Forecasts Lower FY Earnings

Reuters

May 11 (Reuters) - Oilfield services provider John Wood Group Plc warned that full-year core earnings would be about 20 percent lower than the last year, as it had seen further margin pressure due to lower activity by customers.

The company said the expected fall in EBITA was in line with analysts' current expectations, which it put at about $377 million, according to a consensus it had compiled.

John Wood reported EBITA of $470 million last year.

(Reporting by Esha Vaish in Bengaluru; Editing by Sunil Nair)

Copyright 2016 Thomson Reuters. Click for Restrictions.

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