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Wood Group's profits down a fifth

The engineer's order book is already under pressure as confidence in the oil & gas sector wanes
Wood Group's profits down a fifth

In recent times, John Wood Group (WG.) has taken measures to reduce its exposure to oil & gas markets, while trimming its overall debt burden. That is probably just as well given the energy-focused engineer has foreshadowed a 19 per cent fall in first-half cash profits (Ebitda).

IC TIP: Sell at 220p

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