For the first six months of 2025, Wood reported a statutory loss for the period of $72 million (c. £55m). Despite the challenging period, the company’s order book grew to $6.5 billion (c. £5bn), an increase of 6% year-on-year.

The publication of the 2024 annual report on 30 October 2025 satisfied certain exceptional conditions for the Sidara offer, allowing a shareholder vote on the transaction to proceed in the week of 17 November 2025.

If shareholders approve the acquisition, Wood expects the transaction to complete in the first half of 2026. The deal includes a $450m (c. £343m) capital injection, which will substantially enhance the company’s liquidity. An initial $250m (c. £190m) of this will be available to Wood once shareholders approve the acquisition, providing near-term stability.

The release of the financial statements also paves the way for the company to apply to the Financial Conduct Authority (FCA) for the re-admission of its shares to listing and trading. Wood’s shares have been suspended since 1 May 2025, a consequence of the delay in publishing its 2024 audited accounts.

Ken Gilmartin, CEO, stated: “While trading in the first half reflected the challenges facing the Group, we continued to secure work across our markets.

“Against a difficult backdrop, our people have remained focused on delivering excellence for our clients. These efforts supported growth in our order book to $6.5 billion, reflecting continued confidence in our ability to deliver complex consulting, engineering, and operations solutions at scale”.

Iain Torrens, interim CFO and incoming CEO, added: “As we near the close of this challenging chapter in Wood’s history and look to enter this next period, we are focused on strengthening the Company while still delivering high-quality work for our clients.

“Importantly, we are progressing the Sidara acquisition of Wood, which will provide greater stability for Wood, open new opportunities for our employees and support long-term growth”.