March 20, 2018 / 7:27 AM / a month ago

Wood Group sees modest growth in core profit this year

March 20 (Reuters) - Oilfield services company John Wood Group Plc, which bought smaller rival Amec Foster Wheeler last year, forecast modest growth in core profit for 2018 after reporting an 11.1 percent fall in full-year earnings.

The company said earnings before interest, tax and amortization fell to $598 million, from $673 million a year earlier, on a pro forma basis, as its core oil and gas business remained challenging.

Revenue fell 12 percent to $9.9 billion on a pro forma basis. (Reporting by Arathy S Nair in Bengaluru; Editing by Gopakumar Warrier)

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