Petrofac Limited (PFC.L,POFCY.PK,POFCF.PK) said the company expects its 2012 full year net profit to be at least 15% higher than in 2011. The company is confident of achieving its target of more than doubling recurring 2010 Group earnings by 2015.
In the Engineering, Construction, Operations & Maintenance division, Petrofac continues to deliver very good operational performance. The company continues to experience high levels of bidding activity and see a strong pipeline of bidding opportunities for 2013.
Based on contracts signed to date, Petrofac expects Group backlog to be $11.6 billion at 31 December 2012. Net cash balances were $0.2 billion at 30 November 2012.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.