Wood Group has blamed a "challenging" oil and gas market for a dip in revenue as the company reported its half year results for the six months ended 30 June.

The energy services firm posted its turnover as £2.56 billion between January and June, a decline of 17% from £3.07 billion at the start of last year.

In addition, the company's engineering revenue fell 23% while pre-tax profits on continuing operations were down by 39% to £96m.


Robin Watson, Chief Executive, said: "We have continued to focus on what we can control and what we can manage during a period where lower oil prices have endured and activity has fallen. Our focus remains on managing costs, improving efficiency and maintaining capability. We are working with our customers to work smarter, streamlining work processes while increasing quality and efficiency."

The Aberdeen-based company is also currently in a dispute with North Sea workers over proposed cuts to their pay and allowances.

(LM/CD)