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4 years ago
Saipem to meet investors on Feb 19-20 on results, outlook
February 18, 2013 / 5:16 PM / 4 years ago

Saipem to meet investors on Feb 19-20 on results, outlook

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MILAN, Feb 18 (Reuters) - Italian oil service group Saipem will meet investors in London on Feb. 19-20 to discuss preliminary results for 2012 and the outlook for this year, the company said in a statement on Monday.

Saipem announced on Wednesday its net profit fell 2.1 percent to 902 million euros ($1.20 billion) last year, in line with a revised guidance given by the group.

The company, a subsidiary of oil and gas major Eni, shocked investors at the end of January when it said that margins on its contracts were far lower than expected, prompting it to cut 2012 targets and paint a bleak outlook for 2013. ($1 = 0.7490 euros) (Reporting by Francesca Landini, editing by Stephen Jewkes)

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