Kentz backlog keeps growing
Engineering and construction group Kentz said it was on track to hit its revised targets as its backlog of work continued to grow.
Engineering and construction group Kentz said it was on track to hit its revised targets as its backlog of work continued to grow.
At the end of May 2012 that backlog had grown to US$2.5bn, up from £2.46bn in April.
Since the beginning of the year new orders and natural growth from the firm's clients had reached around $700m, the firm said.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
This gave Kentz visibility of work up until 2015, which it said not only supported current expectations, but positioned it strongly for continued growth in the business.
The current backlog consists of 66% reimbursable service contracts, 12% unit rate reimbursable contracts and 22% lump sum work.
Chief Executive, Christian Brown, said: "We have experienced very little in the way of delays or cancellations to any of the prospects in our current pipeline of opportunities - and certainly none that have had a material effect on the Group or our outlook for 2012 and 2013."
"Despite the current volatility in world markets, we continue to see strong demand for Kentz's services, led by a dedicated workforce that is committed to achieving industry leading standards of safety and delivery," he added.
-
Parental contributions to kids' university living costs could reach £14,000 a year
Parents helping kids with university living costs face contributions of up to £14,000 per year, according to a report from HEPI and TechnologyOne.
By Oojal Dhanjal Published
-
Rightmove: property asking prices hit record high
News Rising demand for top of the ladder home is boosting asking prices, Rightmove research shows. Is now a good time to sell a property?
By Marc Shoffman Published