John Wood Group PLC reported Aug. 20 a profit of $13 million for the first half, or $2.10 per share, up from a net loss of $52 million, or a loss of $7.90 per share, a year earlier.
The Scottish energy services provider reported revenue of $4.79 billion for the first six months, down by 2.6% from $4.92 billion in the prior-year period.
"Strong margin improvement and profit growth in the first half was led by activities in energy markets in the eastern hemisphere and our environment and infrastructure operations in North America, together with cost synergies," CEO Robin Watson said in the earnings release.
Excluding the impact of International Financial Reporting Standards, adjusted EBITDA totaled $314 million for the first half, up by 7.2% from $293 million a year ago.
Similarly, excluding the impact of IFRS, operating profit before exceptional items climbed to $160 million for the first six months from $125 million a year earlier.
As of June 30, the order book reached $9.2 billion, up from $9.1 billion at December 2018.
