Updates

Petrofac - Interims beat expectations

October 2008

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.

Shares in oil services firm Petrofac have soared 60p since our update last month, partly galvanised by the acquisition for an initial Â£15m of UK-based Caltec, a specialist technology firm whose products enhance oil production from mature fields and also allow the partial separation of gas, oil, water and solids. Earlier, Petrofac announced interim results, which were nicely ahead of expectations. For the six months to 30 June net profit increased 57% to US$121m on revenue that rose 49% to US$1.57 bn. Diluted eps rose 57% to 35.1 cents. The best performance came from Petrofac's largest activity, engineering & construction, where revenues rose 81% to US$1.04 bn. (24% ahead of forecast) leading to net profit before central costs ...

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Petrofac - Oil services group recovering after contract setback (November 2016)

Petrofac (May 2013)

Petrofac - "Farm-in" to large gas discovery in Cameroon (December 2012)

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Petrofac (January 2012)

Petrofac - Backlog twice covers revenues (October 2011)

Petrofac - US$2.1bn new orders (August 2011)

Petrofac (June 2011)

Petrofac - Huge contract win swell order backlog to US$13.5bn (March 2011)

Petrofac (February 2011)

Petrofac - Take some profit off the table (October 2010)

Petrofac - Oil services firm secures several new contracts (September 2010)

Petrofac - Shares hit new highs on back of forecast beating results (April 2010)

Petrofac (February 2010)

Petrofac - To deliver â€œat least 20% eps growthâ€ (December 2009)

Petrofac - Guidance for profit growth of at least 20% growth (October 2009)

Petrofac - Fast growing oil services firm with high predictability of revenues (August 2009)

Petrofac - Lower oil price reduces forecast (December 2008)

Petrofac - Acquisition broadens service range (September 2008)

Petrofac - Oil & gas engineer with record order book (August 2008)

Petrofac - 10% eps upgrade (July 2008)

Petrofac - Shares break above Â£6 for first time (May 2008)

Petrofac - Shares soar over 50p (February 2008)

Petrofac - Oilfield services firm sees rampant demand as energy prices soar (November 2007)

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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