John Wood Group has reported revenue rising by 3% to around $5.4bn, including an adverse impact of around $275m from foreign exchange rate movements.
In a trading update for the year ended 31 December 2022, the Aberdeen-based business noted that growth in its consulting and operations divisions was offset by the expected full year decline in projects.
Adjusted earnings before tax came in at between $375m to $385m, in line with guidance and including an adverse impact of around $15m from foreign exchange rate movements. This comes at an earnings margin of around 7.1%, compared to 7.7% last year, including the impact of lower margins in operations and a lower margin in consulting which partly reflects the impact from exiting work in Russia.
