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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Petrofac - To deliver "net profit growth of at least 15%"

July 2012

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:
  • 1562p
Oil & gas facilities services provider Petrofac has announced that trading has been in line and it expects to deliver net profit growth of at least 15% this year. Meanwhile, net cash stood at US$1bn as at 30 April (31 December 2011: US$1.6bn.) while group backlog was US$9.6bn, against US$10.8bn last December. Since then, however, it has also won a US$220m project from Malaysian national oil company, Petronas, to refurbish a gas processing and export platform. With brent crude holding up over US$100 / barrel and an expected widening in the gap between supply and demand, Petrofac remains well-placed to take advantage of increased investment in the sector. Strong hold. ...

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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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