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Wood Group tumbles deep into red

Last year's oil price crash drove sales and the order book lower for the engineering and consultancy group
Wood Group tumbles deep into red
  • Wood Group reported a $149m (£107m) pre-tax loss for 2020, the largest since its restructure a decade ago
  • Settlement reached with Scottish prosecutors over $8m in payments to Unaoil by joint venture 

After a tough year for oil and gas-exposed companies due to the oil price crash, engineering and services company Wood Group (WG.) recorded its biggest pre-tax loss since its major restructure a decade ago. 

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