John Wood group increases its 2014 full year dividend by 25%

DividendMax Ltd.

John Wood group increases its 2014 full year dividend by 25%
Financial Summary

Performance in line with expectations and up on 2013 led by strong growth in
Wood Group PSN Production Services

Total Revenue of $7,616.4m up 7.8% on 2013 ($7,064.2m) and Total EBITA of
$549.6m up 3.1% on 2013 ($533.0m)

Revenue from continuing operations on an equity accounting basis up 14.3% at
$6,574.1m (2014: $5,753.2m)

Profit from continuing operations on an equity accounting basis before tax and
exceptional items (but after tax on JV profits) up 10.9% at $414.5m (2013:
$373.7m)

Adjusted diluted EPS of 99.6 cents (2013: 98.6 cents)

Total dividend of 27.5 cents per share (2013: 22.0 cents) up 25%; intention remains to increase US dollar dividend per share from 2015 onwards by double digit percentage

Strong cash generation and robust balance sheet providing security and
flexibility

$217.3m invested in strategic M&A

Internal SG&A cost reductions and deferrals of over $30m to be delivered

Anticipate performance in 2015 to demonstrate relative resilience in a
challenging market
 

Companies mentioned