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Date: Tuesday 26 Aug 2008

LONDON (ShareCast) - Oil services company John Wood Group delivered a 44% rise in half year profit and expects results for the year to be ahead of expectations.

EBITA rose to $207.9m in the six months ended 30 June from $144.6m while revenue rose 19% to $2.5bn. Pre-tax profit rose 46% to $181.3m.

On a confident note, John Wood said overall its markets are robust and the demand for its services remains high.

"We expect to see continuing growth in the overall demand for energy with the ongoing increase in demand from the developing world offsetting the possible impact of slower economic growth in developed countries," the group said in Tuesday's interim results.

An interim dividend of 2.8 cents has been declared, up from 2 cents in 2007.

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