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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Petrofac - To deliver “at least 20% eps growthâ€

December 2009

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:
  • 1007p
Shares in Petrofac hit an all-time high of 1063p over the month as the firm reported a strong trading update, which noted that it should deliver at least 20% earnings growth. Its order backlog rose by US$0.1bn to US$8.5bn. comprising US$7bn for its engineering & construction division and US$1.5bn across its other business units. Meanwhile its gross cash balances rose from US$0.9bn to US$1.3bn mainly thanks to advanced payments in respect of recently won contracts. The tone of the update was mostly upbeat, in particular in engineering & construction where good progress has been made procuring sub-contractors for its recently won business, underpinning its confidence in the estimates on which the bids were based. Selective b ...

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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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