WOOD Mackenzie has said it achieved a solid underlying financial performance last year, when America’s Verisk Analytics bought the oil and gas consultancy for £1.85 billion. The latest accounts for Edinburgh-based Wood Mackenzie’s parent company, H&F Nugent 1, show the business maintained turnover at around £227 million in spite of the oil and gas sector downturn. Operating profits fell to £64.2m from £83.3m. In the accounts directors said the revenue and profitability of the group was affected by the sale of a US subsidiary, with which it still has a trading relationship. They added: “After adjusting for the sale … we have added additional heads into the business across all segments, disciplines and geographies.” The directors said economic uncertainty fuels demand for the information the company holds.
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