Wood Group

Wood Group's chief financial officer, Arvind Balan, has resigned with immediate effect after admitting to misrepresenting his professional qualifications.

Wood Group has announced plans to accelerate asset sales to raise up to $200 million (c. £158m), following a trading update revealing "material" weaknesses in governance and a weaker-than-expected Q4 performance.

Shares in Aberdeen-based energy firm Wood Group have plummeted by over 50% on Thursday after it reported a significant loss in its third quarter results and that it would commission an independent review by Deloitte. The Aberdeen-based company, which employs 35,000 people globally, announced a &poun

Aberdeen-headquartered Wood Group has announced the sale of two non-core businesses, EthosEnergy and CEC Controls, expected to generate net proceeds of approximately $165 million (c. £125m) in 2024.

Wood Group reported a significant pretax loss of almost $1 billion (c. £770m) in the first half, primarily due to an impairment charge related to its 2017 acquisition of Amec Foster Wallace. Despite this, the company remains optimistic about its future, with CEO Ken Gilmartin emphasising plans

Aberdeen company John Wood Group saw its share prices plummet as Dubai-based potential buyer Sidara abandoned a takeover deal. The Dubai-based engineer Dar Al-Handasah, known as Sidara, had been pursuing the firm for several months.

Sidara's deadline to make a formal takeover offer or withdraw its bid for Wood Plc has been extended until the end of the month.

Dubai-based engineering firm Sidara has made a fourth and "final" takeover bid for Aberdeen-headquartered Wood Group.

Aberdeen-based engineering firm Wood Group has rejected a third takeover bid from Dubai-based Sidara.

Wood Group, the Aberdeen-based oil and mining sector services company, has rebuffed a second takeover offer from its Dubai-based competitor Sidara.

Aberdeen-based oil services company Wood Group has declined a £1.4 billion takeover offer from Dubai-based rival Sidara, citing the offer as "fundamentally undervalued".

Aberdeen-based energy services firm Wood Group has revealed revenue growth and improved cash flow for 2022, alongside a new "Simplification Programme" aimed at driving margin expansion.

Energy industry firm Wood Group has released its full-year trading update for the year ending 31 December 2023, demonstrating robust financial results in line with expectations.

Aberdeen-based energy and engineering services firm Wood Group has reinforced its annual financial projections following a lucrative third quarter, which saw several substantial contract gains.

Aberdeen-headquartered global energy services company Wood Group appointed Arvind Balan as its new chief financial officer and executive director, effective from mid-April 2024. Mr Balan's financial acumen, honed through his recent tenure as CFO of Rolls-Royce’s Civil Aerospace division &ndash