logo
Plus   Neg
Share
Email

Petrofac Targets Additional Savings - Quick Facts

Petrofac Ltd. (POFCF.PK,POFCY.PK,PFC.L) said the company is now targeting additional savings to those announced on 6 April. Petrofac now plans to reduce overhead and project support costs by at least $125 million in 2020 and by up to $200 million in 2021.

The company reported that COVID-19 has caused significant disruption to its Engineering and Construction (E&C) projects. Whilst projects are still progressing, this has inevitably resulted in material delays in construction activity, which will not be recovered in 2020, the company said.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Variety store chain Dollar General is conducting a one-day-only early holiday savings event on Friday, November 13, with a variety of deals that can also help customers save more this holiday season. The offers are available at its nearly 17,000 stores on toys, holiday dcor, gifts, crafts, baking essentials and household necessities. The company noted that specific assortments may vary by store. Workplace technology company Xerox Holdings Corp. (XRX) reported Tuesday that net income for the third quarter declined to $90 million or $0.41 per share from $221 million or $0.68 per share in the year-ago quarter. Excluding items, adjusted earnings for the quarter were $0.48 per share, compared... While reporting financial results for the third quarter on Tuesday, Pfizer Inc. (PFE) tightened its full-year 2020 guidance range for adjusted earnings and revenues. However, the company reaffirmed all 2020 financial guidance components for New Pfizer and Upjohn. For fiscal 2019, the company now projects...
Follow RTT