Engineering and services giant Wood Group (WG.) runs on long-term contracts, so any turnaround plan is going to take time. Its top line and various adjusted items for the first half certainly reflect improvements, and the company has also set 2023 guidance for sales at $6bn (£4.7bn), a rise of 10 per cent on last year.
The company, which operates across the energy, mining and renewables sectors, specifically highlighted hydrogen and carbon capture projects as ramping up this year. Its order book of $6bn represents a 5 per cent increase since the end of December but a 4 per cent drop on a year ago, at constant currency rates.