We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Petrofac Limited | LSE:PFC | London | Ordinary Share | GB00B0H2K534 | ORD USD0.02 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 10.50 | - | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Oil & Gas Field Services,nec | 2.59B | -310M | -0.5996 | -0.18 | 54.29M |
Date | Subject | Author | Discuss |
---|---|---|---|
27/6/2017 07:13 | Petrofac Limited Trading update 27/06/2017 7:01am UK Regulatory (RNS & others) Petrofac (LSE:PFC) Intraday Stock Chart Today : Tuesday 27 June 2017 Click Here for more Petrofac Charts. TIDMPFC RNS Number : 2222J Petrofac Limited 27 June 2017 27 June 2017 PETROFAC LIMITED TRADING UPDATE Petrofac issues the following pre-close trading update ahead of the announcement of its half year results for the six months ending 30 June 2017 on 30 August 2017. -- Underlying net profit(1) for the first half of 2017 is expected to be US$135 million to US$145 million; full year net profit is expected to be weighted to the second half of the year -- New order intake of US$1.7 billion in the year to date -- Backlog of US$13.0 billion at 31 May 2017 -- Net debt is forecast to be around US$1.1 billion at 30 June 2017 in line with expectations Ayman Asfari, Petrofac's Group Chief Executive, commented: "We have made a positive start to the year, driven by good project execution and financial discipline. "Our core business continues to trade in line with expectations and we remain competitive, securing new contract awards in both our E&C and EPS divisions throughout the last six months. The high level of tendering activity is evidence of greater confidence in our core markets and we continue to have a very good pipeline of bidding opportunities. In IES, performance in the first half of 2017 has been impacted by lower realised oil prices, lower capital investment in Mexico and our delayed entry onto the Greater Stella Area development licence. "Our clear strategy - focused on best in class execution, maintaining our cost-competitiveness to secure new awards and reducing capital intensity - positions us well for the remainder of the year." Rijnhard van Tets, Petrofac's Chairman, commented: "Everyone within Petrofac is completely focused on delivering operational excellence for our clients and winning new contracts. In addition, we are committed to maintaining our strong balance sheet and reducing net debt. The Board has great confidence in Petrofac's ability to continue to deliver, and is fully supportive of the work being done to serve our clients and deliver our strategy. "An independent committee of the Board will continue to engage with the SFO and its investigation." Engineering & Construction We have delivered good progress on our portfolio of lump-sum engineering and construction projects during the first half of the year, including substantially completing the Sohar Refinery Improvement Project and Khazzan central processing facility in Oman. Petrofac has secured new project awards since bidding activity picked up in late 2016, including the GC-32 project in Kuwait for US$1.3 billion in March. We continue to see a high level of tendering activity in our core markets. Engineering & Production Services Our reimbursable business continues to perform in line with expectations. We have secured awards and extensions with new and existing clients worth approximately US$0.3 billion year to date predominantly in the UK, Iraq and Kuwait. In addition, we recently secured a 10-year framework agreement with Petroleum Development Oman for the provision of Engineering, Procurement and Construction Management (EPCm) support services for major oil and gas projects, which will further increase backlog as projects are sanctioned. Integrated Energy Services (IES) The Greater Stella Area (GSA) development commenced production in February, although the ramp-up in production and our formal entry onto the licence has been slower than expected. The Chergui gas plant in Tunisia has recently recommenced production after an extensive shut-in due to civil unrest. Lower investment in our Mexican Production Enhancement Contracts (PECs) has also impacted underlying performance. Production in Malaysia (PM304) has been in line with expectations. Looking forward, IES' full year EBITDA is now expected to be in the range c.US$80 million to US$100 million, principally reflecting lower current forward curve oil prices(2) , a lower contribution from GSA and lower investment in Mexico. Migration of the first of our Mexican PECs to a production sharing contract is expected in the second half of the year. Financial position Group backlog stood at US$13.0 billion at 31 May 2017: 31 May 2017 31 December 2016 US$ billion US$ billion Engineering & Construction 7.6 8.2 Engineering & Production Services 2.9 3.5 Integrated Energy Services 2.5 2.6 Group 13.0 14.3 Net debt is expected to be around US$1.1 billion at 30 June 2017, reflecting working capital movements and payment of the 2016 final dividend. Net debt is expected to reduce during the second half of the year. Notes (1) Underlying business performance profit for the year attributable to Petrofac Limited shareholders before exceptional items and certain re-measurements. (2) IES full year EBITDA guidance of US$140 million to US$160 million on 22 February 2017 was based on the then prevailing forward curve, which averaged US$56, with a US$1 increase/decrease in the price of oil decreasing/increasin Conference call Alastair Cochran, Chief Financial Officer, will host a conference call for analysts and investors at 8am today. Ends Disclaimer: This announcement contains forward-looking statements relating to the business, financial performance and results of Petrofac and the industry in which Petrofac operates. These statements may be identified by words such as "expect", "believe", "estimate", "plan", "target", or "forecast" and similar expressions, or by their context. These statements are made on the basis of current knowledge and assumptions and involve risks and uncertainties. Various factors could cause actual future results, performance or events to differ materially from those described in these statements and neither Petrofac nor any other person accepts any responsibility for the accuracy of the opinions expressed in this presentation or the underlying assumptions. No obligation is assumed to update any forward-looking statements. For further information contact: Petrofac Limited +44 (0) 207 811 4900 Jonathan Low, Head of Investor Relations Jonathan Edwards, Investor Relations Manager Alison Flynn, Group Head of Communications +44 (0) 207 811 4913 Tulchan Communications Group LLP +44 (0) 207 353 4200 Martin Robinson petrofac@tulchangrou LEI 2138004624W8CKCSJ177 Notes to Editors Petrofac Petrofac is a leading international service provider to the oil & gas production and processing industry, with a diverse client portfolio including many of the world's leading integrated, independent and national oil & gas companies. Petrofac is quoted on the London Stock Exchange (symbol: PFC). Petrofac designs and builds oil & gas facilities; operates, maintains and manages facilities and trains personnel; enhances production; and, where it can leverage its service capability, develops and co-invests in upstream and infrastructure projects. Petrofac's range of services meets its clients' needs across the full life cycle of oil & gas assets. With around 13,500 employees, Petrofac operates out of seven strategically located operational centres, in Aberdeen, Sharjah, Abu Dhabi, Woking, Chennai, Mumbai and Kuala Lumpur and has a further 24 offices worldwide. This information is provided by RNS The company news service from the London Stock Exchange END TSTFFMTTMBJTTJR (END) Dow Jones Newswires June 27, 2017 02:01 ET (06:01 GMT) | stoxx67 | |
27/6/2017 07:13 | Very bland RNS.But backlog down from 14.5bn to 10bn.Nothing to excite the longs so I fear a slow fall back below 4GBP.Hope I am wrong and that another holdings RNS days DB or Tosca have added again. | paa65 | |
27/6/2017 07:10 | Can you C+P it on here please stoxx as I can't get the link to open on my computer. | luderitz | |
27/6/2017 07:08 | Pretty unexciting statement | nicksig | |
27/6/2017 07:08 | so it seems business as usual from the trading update :) | stoxx67 | |
27/6/2017 05:54 | NY Boy meaning what exactly? Al. | bryall2 | |
26/6/2017 22:38 | PFC stands above its 20 day MA (399.52p)but below its 50 day MA (636.68p). | ny boy | |
26/6/2017 19:57 | The theme will be reassurance. | gaffer73 | |
26/6/2017 19:20 | happy to remain long until £6 again, whether it be a few months or a few years. investment really does pay off, given a little patience and a little capital. bonne chance | stoxx67 | |
26/6/2017 19:13 | and yours too ;) | mister md | |
26/6/2017 18:23 | Well in that case get up at 7 - at least your username will be apt :-) | panic investor | |
26/6/2017 16:31 | Profits a profit | panic investor | |
26/6/2017 16:27 | got frit and sold my 6.5 k i made 5% and feel safe will wait till 9.30 tmrw for signs. gla | adejuk | |
26/6/2017 16:06 | Dahhad,try a book by Stan Weinstein called, Secrets for Profiting in Bull and Bear Markets for a starter.You can buy the book from Amazon. Then move on to some charting lessons on youtube. It is free there.It takes time. I will give you a quick hint. RSI is very important indicator. Over 70 a share is over bought and under 30 it is over sold.Then play on Investing.com on Stock Charts for free. Welcome to the modern Stock Market Casino where you are playing against Algos(Bots). I hope this helps. GL for tomorrow. | callmebwana | |
26/6/2017 15:06 | Callme - Bollinger bands being tight n the charts is all new to me I'm afraid! I have no knowledge of charts; where is a good place to start to try and get some sort of feel for this? What was a very upbeat morning has become a gloomy Monday afternoon! Fingers crossed for +ve news tomorrow that isn't distorted in the market!! | dahhad | |
26/6/2017 14:01 | Callme, that's what I'm expecting i.e. bollinger on the 1 hour I agree with but longer term not really. will all depend on the comments in the results I think | panic investor | |
26/6/2017 13:44 | The Bollinger Bands are quite tight on the chart. @£4.32 The share price was trading outside them. The Bots will sell. The tight Bollingers are telling me there is going to be a big movement in the share price.I hope upwards. We wiil see tomorrow. In the meantime the Shorters have the upper hand.Shorters distort the share price. I hate them. I am not a very skilled user of charting ,tough charting has been a good tool for me to use in trading.RSI,Bollinge You can use Inveting.com for charts. DYOR etc. ATB and GLA for tomorrow. | callmebwana | |
26/6/2017 12:03 | NY Boy, You might get you c435p or above @ 4.30pm, IMO | nicebut | |
26/6/2017 11:18 | callmebwana no problem at all. I ended up losing 3k betting on the indices. Lesson learnt. Staring at the screen all day and even into the early hours is no good whatsoever for ones health! | lodgeview | |
26/6/2017 10:18 | NYB, just give her the card ! Oh wait a minute ...... | panic investor | |
26/6/2017 09:49 | Looking good, off out, missus wants to go shopping. Will check back on progress later in the afternoon. Happy with a close above 435p, any higher more comforting. | ny boy |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions