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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Petrofac - US$2.1bn new orders

August 2011

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:
  • 1474p
In its pre-close update Petrofac noted that trading is in line. Highlights included US$2.1bn in new orders, including the award of its second contract in Iraq, while group backlog stands at US$11.4bn as at 30 June (31 December 2010: US$11.7bn.). Gross cash balances stand at US$1.7bn.Interims are due on 22 August. Given that it previously stated that net profit is expected to increase at least 15% this year, with JP Morgan Cazenove expecting eps to rise to 149 cents (93.1p), we think any weakness in the shares should be seen as a buying opportunity. ...

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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.

All material on this website is protected by copyright. You may use Information retrieved from the www.scsw.co.uk website for your own personal non-commercial use which means that you may not sell or copy this information to any third party without prior written consent. ISSN 1358-183X

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