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John Wood Group PLC on Thursday said sales growth across all of its units helped boost its quarterly revenue, and added its full year expectations remain unchanged. The Aberdeen, Scotland-based engineering and consulting business said third quarter revenue rose 8.2% to $1.48 billion from $1.37 billion a year ago. Year-to-date group revenue rose 13% to $4.46 billion. Looking ahead, John Wood affirmed that revenue is in line with its full year expectations of $6 billion, which would be around an 11% rise from $5.4 billion in 2022. The firm added that its third quarter and year-to-date adjusted earnings before interest, tax, depreciation and amortisation is in line with its expectations, citing growth across all of its business units. John Wood’s order book at September 30 was $5.9 billion. Chief Executive Officer Ken Gilmartin said: ‘We have delivered another quarter of strong growth in revenue and Ebitda as we continue to execute against the growth strategy we set out a year ago. I am particularly pleased to see continued progress across sustainable solutions, now making up 35% of our pipeline, and some excellent contract wins in the period. ‘Reflecting the momentum that we are building in the business, we remain confident that our actions, business model and strategy are delivering.’ Shares in John Wood fell 1.8% to 150.00 pence each in London on Thursday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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