Wood Group has reported a full-year operating loss of $568m, primarily reflecting previously-flagged impairment charges of $542m.
The engineering consultancy's results for the year ended 31 December 2022 also showed that the $352m loss during this period is after a gain on sale of its built environment business of $515m.
Meanwhile, revenue of $5.4bn was up 4%, with growth in consulting (up 4%) and operations (15%) being offset by the expected decline in projects (down 6%). At constant currency, overall group revenue was up 8%.
