The Aberdeen-based Wood Group said market conditions remain challenging but it expects full-year figures to be in line with expectations.
The energy services company with over $7 billion (£4.46bn) of sales in more than 50 countries made the announcement on the day one of its subsidiaries unveiled a $250 million contract with BP in the Caribbean.
Wood Group posted revenues of $6.6bn (£4.2bn), up 14.3% on the previous 12 months despite a steep decline in the oil price.
Many clients had cut capital expenditure due to the Brent crude price fall, although it has recovered slightly this year to trade at US$65 a barrel.
Wood Group has worked with customers to lower costs and improve efficiency, as well as cutting jobs and finding savings from its operations.
The group said: “We are confident that we can deliver selling, general and administrative cost reductions of over $30m (£19.1m) in 2015.”
Full-year earnings before interest, taxes and amortisation, the indicator of profitability, are expected to be in line with analyst consensus.
In its annual meeting statement yesterday, Wood Group said its overall performance for the year to date, while down on last year, reflects the “relative resilience of its business model”.
The group is confident of delivering good growth as market conditions improve.
Wood Group still intends to increase its dividend per share by a double digit percentage from this year onwards.
The five-year £159m deal with BP was won by the joint venture with Massy Holdings. Massy Wood will provide engineering, procurement and construction services to BP’s 13 upstream offshore rigs in the Greater Cassia and Greater Mahogany areas off Trinidad.
Massy Wood has worked with BP in Trinidad & Tobago for nine years.
The latest deal follows the Wood Group’s success in winning a five-year $750m (£478m) agreement with BP for offshore installations and onshore facilities at Grangemouth.
Wood Group has also secured five-year contracts this year with Total and Enquest in the North Sea.