Wood Group posts rise in profits The British energy services company, which designs, builds and maintains oil and gas facilities and pipelines, said pre-tax profits rose 43pc in 2012 to $362.7m, up from $254.1m in 2011, according to its annual results. It confirmed that losses in Oman were $20 million in 2012, at the top end of a previous guidance range. The Aberdeen-based company blamed changes to local employment laws and unforeseen "complexities" for the problems in Oman but said it expects to make a profit over the life of the seven-year contract. The company also announced it will pay a final dividend of 11.3 cents "reflecting our confidence in the longer term outlook" for the company. This will bring the final dividend for the year up to 17 cents, a 26pc increase on the previous year. These are the first results announced by the company since Bob Keiller took over as chief executive last November. A board shake-up was prompted after Sir Ian Wood's decision to retire as chairman last year after 48 years. Mr Keiller said he expected the company to grow across all divisions in the coming year. "We are set to make progress in all divisions in 2013, and I look forward to leading our further development in good long term growth markets," he said. Shares in the company were up 6pc in early trading on Tuesday.