Kentz rises on order backlog

Kentz, the FTSE 250 engineering and construction firm, says its order book is booming with its backlog of work having increased to $2.38bn by the end of October versus $1.57bn at the end of June.

The firm, which only joined the FTSE 250 back in September, says trading since July has been in line with expectations.

The company's core speciality is providing structural, mechanical electrical, instrument and piping construction. It also has an "Asset Enhancement" business which has just won three downstream refinery shutdown management contracts in South Africa.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

Kentz says it remains positive about the outlook for 2011 and 2012 and has a total pipeline of prospects in excess of $9.77bn compared to $8.89bn in June 2011.

Commenting on today's results the company's chief executive Hugh O'Donnell said:

"Our backlog of orders has increased by approximately 50 per cent in the year to date and we see significant opportunities in our immediate and medium term pipeline of prospects."

At 11.15am Kentz's share price had risen 3.8% to 480.80p

BS