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
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
-
The top stocks in the FTSE 100After a year of strong returns for the UK’s flagship index, which FTSE 100 stocks have posted the best performance in 2024?
-
A junior ISA could turn your child’s pocket money into thousands of poundsPersuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
