It’s been 19 months since Amec Foster Wheeler revealed that it was being investigated by the Serious Fraud Office over allegations relating to Unaoil, the Monaco-based energy consultancy. Since then, we’ve not heard a peep from Wood, the former John Wood Group that is the new owner after agreeing a £2.3 billion deal to buy its rival oil services business that year.
Unfortunately, that is the way with these investigations, which can drag on for years, and in the meanwhile investors have to live with the uncertainty that inevitably hangs around the share price, in this case for a business that otherwise seems to be trundling along rather well.
Wood was formed in 1912 as Wood & Davidson, which was involved in fishing as well