France's Technip SA (TKPPY.PK,TNHPF.PK) reported Thursday a decline in fourth-quarter profit, despite higher revenues. Order intake also increased. Looking ahead for fiscal 2013, the company expects revenue and profit to grow.
In its fourth quarter, net income edged down 1.7 percent to 147 million euros from last year's 149.5 million euros. Earnings per share declined 5.5 percent to 1.21 euros from 1.28 euros last year.
Quarterly revenues increased 14.2 percent to 2.30 billion euros from 2.01 billion euros in the prior year.
Order intake increased to 2.98 billion euros from 2.34 billion euros last year.
Thierry Pilenko, Chairman and CEO, commented, "Technip's performance was in line with our objectives throughout 2012, including the fourth quarter. Our backlog grew to €14 billion, whilst remaining diversified by geography, market segment and project type, which we hold to be a critical success factor in our industry."
For fiscal 2013, the company expects Group revenue to grow 11 percent to 16 percent to between 9.1 billion euros and 9.5 billion euros.
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