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Wood Group (WG.) – Finals PTP: £129.45m (£93.52m) Divi: 2.49p (1.78p)

The oil services firm enjoyed another bumper year, with profits up by around 40%, and each business – engineering, well support and gas turbine – seeing strong growth.

The company highlighted the continuing buoyancy in the sector and raised the dividend by 40%, and flagged up its increasingly global spread with 70% of revenue coming from outside Europe.

Management played down talk of consolidation in the sector after the recent bid, from an unnamed party, for Expro (EXR). Sir Ian Wood, the group’s chairman, says: ‘The market for energy services is expected to remain strong. Our expanding range of differentiated services and products, and great team of people throughout the world position us well for continuing strong growth.’

Shares says: The company offers strong growth prospects but that is probably reflected in the price.

by: Tom Sieber