John Wood Group Sees FY Trading In Line With Views

1st Jul 2010 07:07

LONDON (Dow Jones)--John Wood Group PLC (WG.LN), an international energy services company, said Thursday that overall, performance for the Group for the year to date is in line with expectations. MAIN FACTS: -The consequences of the Macondo incident in the Gulf of Mexico are not anticipated to materially impact financial performance in the current year. -Engineering has performed as expected and bidding volumes have improved, giving increased confidence in a return to growth in 2011. -4% of the Group's revenue, primarily in subsea and topsides engineering, is related to new deepwater developments in the Gulf of Mexico. -Believes longer term fundamentals for services and products remain strong and is continuing to extend services and broaden international presence. -Shares closed Wednesday at 313.2 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] (END) Dow Jones Newswires July 01, 2010 02:07 ET (06:07 GMT)