Aberdeen-headquartered services giant Wood is confident of a ramp-up in activity this year after revenues slumped during a challenging 2021.

Full-year revenues at Wood fell 14% last year to $6.43 billion from $7.56 billion in 2020, with results negatively impacted by lower activity in its "projects" business, the company said on Wednesday.

Wood chief executive Robin Watson meanwhile announced that he plans to retire after six years in charge of the FTSE-250 company once a successor has been found.