UK service provider Wood returned to profit in the first half of the year, despite falling revenues.
Wood posted a profit of $13 million for the six months to 30 June, recovering from last year’s first half loss of $52 million when results were affected by non-cash amortisation charges of $125 million and exceptional costs of $101 million.
Operating profit, before exceptional items, was still higher this year at $160 million compared to $125 million a year ago.
