Amec Foster Posts H1 Loss Hit By Charges

Reuters

Aug 9 (Reuters) - Oilfield services company Amec Foster Wheeler Plc reported a first-half pretax loss, hurt by restructuring charges on its oil and gas business in the Americas and impairment charges in its global power group business.

The London-based company, which provides engineering and construction services to oilfields, said the asset write-offs and impairment charges accounted for 371 million pounds ($481.8 million) out of 440 million pounds in total non-cash impairment charges for the first half of the year.

The company reported a pretax loss of 446 million pounds in the six months ended June 30, compared with a pretax profit of 73 million pounds a year earlier. Revenue from continuing operations rose 7 percent to 2.84 billion pounds.

(Reporting by Pranav Kiran in Bengaluru; Editing by Gopakumar Warrier)

Copyright 2016 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Related Companies
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Structural Dept. Craft Mgr.
Expertise: Engineering Manager|Marine Engineering|Structural Engineering
Location: Philadelphia, PA
 
Project Manager
Expertise: Project Management
Location: Pasadena, TX
 
Superintendent
Expertise: Construction Superintendent|Heavy Machinery Operator|Project Management
Location: Pittsburgh, PA
 
search for more jobs

Brent Crude Oil : $49.24/BBL 1.12%
Light Crude Oil : $47.83/BBL 1.65%
Natural Gas : $2.959/MMBtu 0.23%
Updated in last 24 hours