MARKET TALK: John Wood Group Overall Performance In Line

1st Jul 2010 08:10

0710 GMT [Dow Jones] John Wood Group's (WG.LN) trading statement shows that overall performance for the year-to-date is in line with expectations, says Arden. Says engineering remains a mixed bag, as expected, with positive sub-sea activity levels and a growing prospect list on the upstream side but ongoing pressure in the downstream and industrial areas. Says production facility levels are robust. Thinks Wood Group is an attractive investment, with its low-risk operating model, which looks quite lean following a period of cost rationalization. Says, "Wood Group offers a low-risk geared play into rising capital investment levels and a firming North American market." Keeps at buy. Shares -1.1% at 310p. ([email protected]) Contact us in London. +44-20-7842-9464 [email protected] (END) Dow Jones Newswires July 01, 2010 03:10 ET (07:10 GMT)