Wood Group is "continuing progress on its turnaround" after a positive half year update on Tuesday morning.
CEO Ken Gilmartin said the firm's strategy is delivering after reporting an 8.5% rise in adjusted EBITDA to $219m (£168.5m) for the six months to the end of June.
The energy services company said its order book was up 3.6% to $6.2bn (£4.77bn), though legacy acquisitions and exits from some projects contributed to an operating loss of $899m (£691.7m).
Shares in the group remain low, at little more than 130p, following Dubai-based competitor Sidara pulling out of a deal to takeover the Aberdeen-headquartered Wood Group.
The share price plummeted 40% to a low of 128p following the announcement a fortnight ago, though no mention of the failed takeover attempt was made by Wood or Mr Gilmartin this morning.
"These results demonstrate continued progress on our turnaround", insisted the CEO in an update to the markets.
He added: "Our strategy continues to deliver higher EBITDA and a larger order book, and we are improving the quality of our business with better pricing and higher margins.
"Our Simplification programme is progressing at pace, with nearly half of the annualised $60 million savings from next year already secured.
"I am also pleased that we have achieved all of this while recording our highest level of employee satisfaction ever, putting Wood in the top quartile of all our peers and demonstrating that our team is focused and energised on driving Wood to its full potential."
FTSE 100
The UK's flagship share index, the FTSE 100, was down 15-points at 8,341 shortly after opening this morning.
Brent crude oil futures were down 0.53%, trading at $77.25 a barrel