Shares in the company fell as much as 10 percent to 736.50 pence in morning trade on the London Stock Exchange.

John Wood Group's profit fell to $34.4 million for the year ended Dec. 31, from $90.1 million a year earlier.

The company said it expected EBITDA margin, which fell to 7.4 percent in 2016 from 8 percent the year before, to fall further by the end of the current year.

However the UK-based company said it was seeing signs of a potential uptick in onshore spending in North America, as the rig count in the United States rises.

(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Amrutha Gayathri)