Amec Foster Posts H1 Loss Hit By Charges
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)
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