Full year revenue up nine per cent at Petrofac

Revenue rose nine per cent at FTSE 100-listed oilfield service company Petrofac in the year ended December 31st.

Revenue rose nine per cent at FTSE 100-listed oilfield service company Petrofac in the year ended December 31st.

The company reported that its revenue rose to $6.3bn from $5.8bn a year earlier while net profit rose 17% to $632m from $540m in 2011.

Earnings per share (diluted) increased by 17% to 183.88 cents. This compared to 157.13 cents in 2011.

The final dividend was 43.00 cents per share compared to 37.20 cents per share in 2011 and the full year dividend was up 17% to 64.00 cents per share.

Ayman Asfari, Group Chief Executive Officer of Petrofac, said: "We have delivered another year of strong financial results and good operational performance. Our portfolio of existing projects is in excellent shape, which we expect will help us to maintain our sector-leading onshore margins, and we see many new and attractive opportunities across our business."

Asfari added: "I am excited and confident about our prospects for the coming year and beyond. We expect to deliver good growth in net profit in 2013 and our strategy underpins long-term earnings growth, including the achievement of our 2015 earnings target."

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020
Why investors should be “cautiously bullish” for 2020
Stockmarkets

Why investors should be “cautiously bullish” for 2020

Analysts have been out in force making rosy predictions for stockmarkets in 2020, but while there is certainly a case for optimism, investors should r…
17 Jan 2020

Most Popular

The rising dollar is proving bad news for most other assets – will it last?
Investment strategy

The rising dollar is proving bad news for most other assets – will it last?

Precious metals, stocks and pretty much every other asset has taken a tumble as the US dollar strengthens. Dominic Frisby looks at how long this trend…
23 Sep 2020
The electric-car bubble could get an awful lot bigger from here
Renewables

The electric-car bubble could get an awful lot bigger from here

The switch to electric cars is driving a huge investment bubble. But that’s not necessarily a bad thing, says John Stepek. Fortunes will be made and l…
24 Sep 2020
Can Rishi Sunak’s winter plan save the UK economy?
UK Economy

Can Rishi Sunak’s winter plan save the UK economy?

With his Winter Economic Plan, chancellor Rishi Sunak is hoping to support the economy through the dark months ahead as restrictions tighten again. Jo…
25 Sep 2020