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John Wood yearly profit down, dividend up

Staff Writer |
Oil-services company John Wood Group reported a fall in full-year net profit, but raised its dividend.

Net profit fell to $27.8 million in the year to end-December from $79 million the previous year on a drop in revenue to $4.12 billion from $5 billion.

The company lifted its final dividend to 22.5 cents a share from 20.5 cents, making for a 10% higher full-year dividend of 33.3 cents a share.

The company said it is cautious on the short-term outlook, but confident of its resilience in tough trading conditions in the oil sector.

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