Petrofac Share Discussion Threads

[bargainbob] 09/5/2014 08:32

The reputation in the oil industry is not good at implementing projects .
I worry over the ability to deal with the backlog and control costs at the same time.
time will see IMHO.

[oilretire] 09/5/2014 08:28

bob your at it, yes it's a short term knock back but credit has to given as to the speed of change - they identified IES is the problematic business unit & have implemented changes already to stop the rot. At least they haven't plundered on blindly......

The backlog in ECOM is unconnected & related to their strongest business unit & a good metric IMHO.

What was your prediction? £6-7 within two years? Never say never, but I doubt it.

[bargainbob] 09/5/2014 08:17

agree , something holding these up. surprised 10 pound is not on the cards imho

[philo124] 09/5/2014 08:15

Underwhelmed.

[bargainbob] 09/5/2014 08:08

Must say holding up well considering the state they will find themselves in with the large backlog.

[bargainbob] 09/5/2014 08:02

123 Timber ?

[bargainbob] 09/5/2014 07:53

They are way over stretched.

They need to focus on delivery , not back log.

costs will overrun and run . I would stay well clear IMHO.

[pugugly] 09/5/2014 07:53

"Net profit for the full year 2014 is expected to be between US$580 million and US$600 million."

Can anyone advise is this before or after TAX? Latest Refs consensus was for pretax of £511 Million - say $858 Million. If applying last year's tax rate of 17.3% whould imply post tax revenue consensus in $'s was $700 million. S agreed a significant shortfall.

OK order book up but in the past they have tended to have under estimated costs.

Net debt of US$0.9 billion at 31 March 2014 (31 December 2013: US$0.7 billion)

Agreed if the market is logical could see a significant fall today.

[chickcrumbs] 09/5/2014 07:47

bob wants a bargain ;-)

[oilretire] 09/5/2014 07:39

On what grounds bob?

[bargainbob] 09/5/2014 07:37

No surprise, this will more than half within two years.

[oilretire] 09/5/2014 07:37

Hmmm, you could be right. Feb guidance was we expect flat to modest growth in net profit in 2014 which compared to these figures Net profit(2) up 3% to US$650 million (2012: US$632 million) is clearly a step backwards.

However it is offset with record order book in ECOM and they have identified the issue eating into profits lies within IES and have already implemented changes to address the problem.

[hatter2] 09/5/2014 07:31

On first sight the numbers are not particularly pleasing and seems to communicate a profits warning. Profits for 2014 were via - projected as $677m for 2014. The update of $580m to $600m indications in the trading update show an estimated shortfall of some 11% to 13%. Can't say I am impressed and expect the stock to be punished today.

[philo124] 09/4/2014 11:55

Nice rise.

[liarspoker] 24/3/2014 07:07

Another nice contract this am. :-)

[philo124] 26/2/2014 12:08

1500p Canaccord target.

[silverfern] 26/2/2014 08:06

p/e of 12 or thereabouts - happy with that

[robrah] 26/2/2014 07:23

2015 re affirmed

[robrah] 26/2/2014 07:22

Boom!! today .

[leoneobull] 25/2/2014 20:54

The herald second rate journalism. Ies Bowleven and pfc should go ahead since you boys sent us a 5000 tonne crane

[sven2006] 24/2/2014 16:46

Suppose it had to take a small breather before the next leg of the journey

Sven

[silverfern] 24/2/2014 15:39

THanks for that

[piedro] 24/2/2014 07:18

more ...

Petrofac Secures North Sea Contract Extensions Worth £65m
17 February 2014


OPHIR ENERGY PLC - Equatorial Guinea Commercialisation Update
20 February 2014