May 9, 2014 / 6:21 AM / 3 years ago

Petrofac warns on lower 2014 net profit

1 Min Read

LONDON, May 9 (Reuters) - Energy services group Petrofac Ltd warned its 2014 net profit would fall by as much as 11 percent to between $580 million and $600 million, due to a poor performance from its Integrated Energy Services (IES) division.

Petrofac, which is in the process of diversifying into more complicated contract agreements through its IES division, had forecast little or no growth this year. It reported 2013 full-year net profit of $650 million. (Reporting by Kate Holton; editing by Sarah Young)

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