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.
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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
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
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
-
Skipton launches a retirement bond with monthly income – is it any good?
The building society has launched a new three-year fixed-rate bond for those aged 66 and over. Can it boost your retirement income?
By Katie Williams Published
-
Pensions: 140,000 pensioners to be hit by surprise tax demand
Tens of thousands of pensioners will be written to over the summer because their pensions have gone above the frozen income tax thresholds
By Chris Newlands Published