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Oil, gas mining engineer Kentz's profit rises 32 pct
March 25, 2013 / 8:01 AM / 5 years ago

Oil, gas mining engineer Kentz's profit rises 32 pct

March 25 (Reuters) - British engineer Kentz Corp Ltd reported a 32 percent rise in full-year profit as demand for its services from the oil and gas industry continued to grow.

The company, which provides engineering, construction and technical support services to the oil and gas and mining industries, said its backlog at the end of February increased to $2.73 billion, up 6 percent from December.

The pretax profit rose to $104.8 million in the year ended Dec. 31 from $79.4 million a year earlier. Revenue increased 6 percent to $1.56 billion.

Analysts on average had expected a pretax profit of $96.6 million and revenue of $1.46 billion, according to Thomson Reuters I/B/E/S.

Kentz raised its final dividend to 9 cents per share from 7.3 cents a year earlier.

Shares in the FTSE 250 company closed at 414.7 pence on the London Stock Exchange on Friday.

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