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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Wood Group (john) Plc | WG. | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| -1.00 | -0.68% | 147.00 | 16:35:18 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 144.60 | 144.60 | 149.50 | 147.00 | 148.00 |
| Industry Sector |
|---|
| OIL EQUIPMENT SERVICES & DISTRIBUTION |
| Top Posts |
|---|
Posted at 09/4/2024 10:15 by davius Moron alert..."Indeed, most of his bonus gone into shares at 130p, as explained he will have been told to do this by Inst's" What utter tosh. Institutional investors don't tell executives that they must invest in the company shares. Are you thick or what? Don't answer that. Life is too short to listen to the numb nuts of the world, that's what the filter bin is for. |
Posted at 09/4/2024 00:05 by gargoyle2 I notice that, unless I missed it, neither the results presentation nor the latest Investor Briefing Pack on the company website talks about the old 'legacy issues'. The previous Investor Briefing Pack (from January) highlighted that the company had 'addressed legacy issues' and that cash outflows from those legacy issues 'mostly end in 2024'. I assume that's partly what drives the promise of 'significany free cash flow' from 2025 and that the lack on mention in the latest results means that legacy issues are fast disappearing in the rear view mirror. |
Posted at 04/4/2024 08:59 by iconista As far as I can tell, the current bashing here seems to be an orchestrated attempt to crash the share price. Sky's misleading and singular article falsely claiming "hundreds" of redundancies was dutifully republished by various publications in the oil industry and was accompanied by almost hysterical bashing across various bulletin boards.One hedge fund in particular has been pressuring Wood Group to put the cash earned from the Built Environments sale into the pockets of investors rather than investing it in securing future growth in the company. I can only assume that, since Wood Group did not buckle under overt pressure in the form of open letters to the company, this hedge fund has decided to use another strategy to pressure Wood Group into giving up cash to investors rather than investing in the future. This strategy is naturally viable since UK stocks, with their low volumes and low valuations, are far more vulnerable than other markets to stock manipulation.But I believe Wood Group's strategy of investing in long term growth instead of squandering money by showering investors with short term gains - even though it bucks current trends - is the right one. I will continue to hold. |
Posted at 14/3/2024 08:47 by iconista I'm curious as to why Chutes is putting so much effort into persuading investors to sell right now. |
Posted at 05/4/2023 18:54 by chutes01 pogue, you need to stop running your mouth hereAs an Eng contractor you are not at all best placed to comment on where any T/O will occur, you are a financial hazard to other investors talking your own book. Now give it a rest son. You are not qualified to offer this kind of advice, and anything you comment on should come with a wealth warning. My offer to meet with you in town still remains. Unless management here have been paid off, this cannot go through at less than £3. |
Posted at 28/3/2023 17:19 by forwood $542mn of those losses are non-cash, chutes. IC notes: 'Adjusted cash profit of $388mn was slightly ahead of analyst forecasts, while Investec sees this climbing to $403mn this year and $449mn in 2024.' They say hold.I say buy. Apollo will not be strapped for cash. Annual income was $10.9 bn in 2022. Its offer for Wood group is almost pocket change! Yes, Wood group has failed its very long term investors but if it goes through at 2.37 it's not a bad premium on the pre bid price or even here (191.6). |
Posted at 28/2/2023 16:38 by boozey chutes it is not just a management decision to agree a takeover or not. There are activist investors at large here who indeed may have been instrumental behind the Apollo approach in the first place. As they have offered and been refused at 230p we know they will need to go higher if they want an outcome. With 230p being broadly 50% higher than the prevailing price at the time the bid was announced, there will be a ceiling to how high they will go without a counter offer. PIs own on average around 8% of the average FTSE Company - most of these are high net worth individuals. Strip them out and the average PI ownership in a company like Wood would be around 3% to 4%. We have no influence so let's wait and see how this plays out. |
Posted at 27/2/2023 11:19 by ashkv Very poor share price reaction - 15% below rejected offer price and would have hoped UK IIs take WG 15-20% above offer price to protect national champions and UK investors... |
Posted at 27/2/2023 11:11 by ashkv FTSE 250 bosses braced for overseas predatorsIncreasing investor confidence could lead to more M&A activity Daniel Thomas in London 6 HOURS AGO Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at The majority of FTSE 250 bosses believe that UK-listed companies are vulnerable to foreign takeovers this year amid growing expectations that M&A activity will pick up as economic conditions improve. British broker Numis found that “compressed&rd Last week it emerged that two UK-listed companies — events business Hyve and energy services company Wood Group — were the takeover targets of US private funds. Much of last year’s M&A activity was also driven by overseas buyers, including the takeovers of Aveva, Micro Focus and Avast in the UK listed tech sector. Stuart Ord, head of M&A at Numis, said that 2022 “was a challenging year for M&A activity, with global economic pressures, constrained debt markets and broad volatility all negatively impacting the appetite for deals”. Ord said that the slow start for dealmaking in 2023 suggested that UK M&A volumes for this year would be lower than 2022, but increasing confidence could lead to more activity in the second half of 2023. More than nine in 10 FTSE 250 company directors expect to undertake some form of M&A this year, with a similar number expecting financing conditions to improve this year. Numis surveyed 80 board directors at FTSE 250 companies and 200 institutional investors in January. Ord warned that the UK stock market looked good value in certain sectors for more highly rated overseas buyers given the pound was still fairly weak against other currencies. But he said that depressed valuations would also make it less likely for boards to recommend takeover approaches. The gap in valuations has also sparked some companies to consider moving their listings or taking additional listings in the US such as UK betting group Flutter, raising fresh concerns about the strength of the UK listed market. Many executives still flagged reasons for caution over dealmaking, including the macroeconomic environment, financing needs and regulations. More than half suggested regulatory hurdles — including antitrust or national security — would be their biggest challenge this year, up from 38 per cent in 2022. Higher leverage was not seen as an issue, reflecting that the balance sheets of many UK corporates are better capitalised than in previous downturns. The appetite of companies to raise equity or use shares was lower than last year given subdued valuation levels for many mid-market groups, however. |
Posted at 26/8/2022 20:37 by ashkv From the FT Investors’ Chronicle: PureTech, RM, Wood GroupCompanies analysis from our sister publication HOLD: Wood Group (WG.) The energy services and engineering group is looking to upcoming divestment to clear its debt pile, writes Alex Hamer. A year into this supply-constrained, high-demand period for oil and gas, Wood Group has remained heavily indebted and dividend free. The group thinks its focus on cash generation will bear fruit, though, and the sale of its built environment consulting division for $1.6bn (£1.38bn) should knock off the debt issue. Helpfully, its lenders increased their covenants so hitting a net debt-adjusted Ebitda ratio of 4.2 times did not bring the cavalry running at the June measurement date. Wood said the built environments sale cash should come through by the time the covenant goes back to 3.5 times. Investors will get a clearer picture of the group under new chief executive (and former chief operating officer) Ken Gilmartin, who took over the top job last month, once the group’s new strategy is released in November. He said his first weeks in the role had come at a time of “improving operational momentum. The strong order book gives me confidence for the future but there is a lot more to do on cash generation,” he said. The group has already started a move away from large-scale projects and this hurt sales for the period, although the operations unit overtook projects to become the biggest contributor in terms of revenue, at $1.2bn. The idea behind taking on fewer lump-sum projects is to smooth out revenue and avoid contracts that end up being lossmaking. That doesn’t mean new deals haven’t come in group-wide — Wood signed a decade-long “engineering and project support” agreement with Chevron, as well an extension with Equinor for work on its North Sea operations. In the first half, there was a free cash outflow of $363mn, driven by a $208mn working capital outflow and exceptional costs of $102mn. This last figure included $38mn in payments after a Serious Fraud Office probe into 2017 Wood acquisition Amec Foster Wheeler, with another two payments of a similar size to come. Another regulatory headache that has popped up this year is around a former Amec project, a chemical plant in Texas. Enterprise Products is after $700mn from Wood, and the group said a verdict was expected by year end. A settlement could still be reached, however. Analysts are forecasting a small final-year dividend, on earnings per share of 19 cents, although the consensus has become more pessimistic as the year has gone on, falling from 26 cents a year ago. While investors aren’t feeling the energy rush yet, we stick with our hold call on the basis of the balance sheet improving and massive project losses now hopefully a thing of the past. |
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