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Amec Foster Wheeler reports bigger-than-expected FY pretax loss
April 25, 2017 / 6:45 AM / 8 months ago

Amec Foster Wheeler reports bigger-than-expected FY pretax loss

April 25 (Reuters) - British oil and gas services company Amec Foster Wheeler Plc, which is being bought by John Wood Group Plc, reported a bigger-than-expected full-year pretax loss as the oil market rout forced companies to delay or cancel contracts.

The company’s loss before tax widened to 542 million pounds ($693.5 million), compared with a pretax loss of 235 million pounds a year earlier. Analysts on average were expecting full-year pretax loss of 275.5 million pounds, according to Thomson Reuters I/B/E/S.

The company reported a 15 percent fall in its full-year adjusted trading profit to 318 million pounds for the year ended Dec. 31. Revenue fell slightly to 5.44 billion pounds from 5.45 billion a year earlier. ($1 = 0.7816 pounds) (Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)

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