Petrofac confident despite order backlog sliding
Oilfield support services titan Petrofac says it is growing increasingly confident of hitting its mid-term target of more than doubling its recurring 2010 group earnings by 2015, after a solid 2011.
Oilfield support services titan Petrofac says it is growing increasingly confident of hitting its mid-term target of more than doubling its recurring 2010 group earnings by 2015, after a solid 2011.
Revenue in the year was up by a third to $5.8bn from $4.4bn in 2010. Profit before tax climbed to $680.6m from $668.4m, while diluted earnings per share jumped by a quarter to 157.13 cents from 126.09 cents the year before. The full year dividend has been increased more or less in line with earnings, up 24% to 37.20 cents (23.39p) from 30 cents in 2010.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
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.
