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UPDATE 1-Wood Group says performance remains in line

Wed Jul 1, 2009 3:14am EDT

Stocks

   

* Market conditions broadly similar to May 13 update

* Says longer term market fundamentals remain strong

(Adds details)

LONDON, July 1 (Reuters) - British energy services company John Wood Group Plc (WG.L) said on Wednesday its performance in the year to date remains in line with expectations.

"Although the oil price has strengthened over recent weeks, market conditions remain broadly similar to those outlined in our Interim Management Statement issued on May 13," the company said. [ID:nLD591660]

Wood Group added that it believes the longer term market fundamentals for its services and products remain strong.

The shares were up 0.9 percent at 269.5 pence at 0711 GMT.

(Reporting by Julie Crust; editing by Kate Holton)



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