(Refiles to fix typo in first paragraph)
Dec 15 British oilfield services company
Petrofac Ltd said on Thursday it would report
better-than-expected full-year net profit as record revenues and
cost cutting measures paid off.
The company said it expected to report $465 million in net
profit excluding performance at its Integrated Energy Services
(IES) unit. Including the IES unit, which is expected to report
a loss of $55 million, the company expected to report net profit
of $410 million for the full-year ending Dec. 31, in line with
its previous guidance.
The company, which designs, builds, operates and maintains
oil and gas facilities said its order book backlog stood at
$14.5 billion as of Nov. 30. It had recorded an order book value
of $20.7 billion in 2015 due to higher orders from its core
Middle Eastern markets.
(Reporting by Sanjeeban Sarkar in Bengaluru; Editing by Sunil