UK-based energy company John Wood Group PLC (LSE:WG.) was the largest individual contributor to relative return during the quarter. The company delivered convincing results in the first half of the year, with strong cash conversion that quieted concerns about its ability to successfully integrate the large Amec Foster Wheeler acquisition. Meanwhile, a backdrop of rising oil prices helped the broader industry outlook.
From Invesco European Growth Fund (Trades, Portfolio)'s third-quarter 2018 shareholder commentary.
