US shale gas acquisition helps boost profits at Wood Group

Wood Group logo

Wood Group, the Aberdeen-based international oil services provider, today reports a strong set of results in its annual report for 2013 – with Chief Executive Bob Keiller forecasting further growth in 2014.

Key highlights from FY 2013 comprise:

  • Total revenue up 3% to $7.064 million
  • Profit before tax up 14% to $412.8m
  • Total dividend up 29% to 22 cents per share

Keiller said: “2013 represents another year of good growth for Wood Group. In my first full year as chief executive, the leadership team and I have reviewed all parts of our operations and this has resulted in a number of actions, including the acquisition of Elkhorn in the US shale gas sector and the joint venture with Siemens.

“Looking to 2014, our mix of opex and capex activities and the contribution of completed acquisitions is expected to lead to growth overall.”

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