Petrofac Announces Trading Update
Petrofac, the international oil and gas facilities service provider, issued the following pre-close trading update ahead of the announcement of its interim results for the 6 months ending June 30, 2006, expected to be on September 18, 2006.
Petrofac’s board reported that the group’s strong operational performance, highlighted in the recent AGM trading statement, has continued. With oil and gas markets continuing to support strong demand for the company’s services, the board views the outlook for the rest of the financial year with increasing confidence. It is therefore anticipated that, in the absence of unforeseen circumstances, the group’s net profit for 2006 will significantly exceed the board’s previous expectations.
During the first 6 months of 2006, order intake across the group amounted to, in aggregate, approximately $1 billion. As at June 30, 2006, the total backlog was approximately $3.4 billion.
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