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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Petrofac - Shares hit new highs on back of forecast beating results

April 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • PFC
  • Price:
  • 1188p
Excitement surrounding the de-merger of its North Sea energy assets as well as forecast beating results sent the shares soaring above £11 for the first time. For the year to 31 December, revenues rose 9.8% to US$3.65bn, while net profit increased 33% to US$353.6m. Eps increased 34% to 103.2 cents (68.3p). Gross cash doubled to US$1.4bn.Engineering & Construction again led the way with revenues rising 35% to almost US$1.5bn, while operating profit increased 33% to US$321.6m - thanks to projects in hand at the start of the year and increase in operating margin from 12.1% to 12.8%. Year-end order book stood at US$6.2bn, compared with US$2.4bn in 2008. There's still a strong pipeline of new business, while the recent contr ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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