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Wood Group profit falls 86 pct on low North Sea activity and exceptional costs

Oilfield services firm Wood Group reported an 86 percent drop in its profit for the first half of the year, citing, among other factors, weak contribution from the North Sea activity.

The UK-based company posted a profit of $6 million, down from $45 million in the first half of 2016.  Profit for the period was impacted by exceptional costs of $47.6 million.

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