The Motley Fool

Petrofac Limited Expects Up To $600m Profit In 2014

oil rigPetrofac (LSE: PFC), the oil and gas service provider, confirmed that it is on track to deliver full-year net profit in the range of $580m to $600m, maintaining previous guidance.

The firm has recently added to its portfolio of engineering and construction projects, with contract wins in Kuwait and Malaysia for $0.7bn and 0.5bn respectively. The ECOM division has already had its most successful year for new awards, taking $9.4bn orders year-to-date.

5G is here – and shares of this ‘sleeping giant’ could be a great way for you to potentially profit!

According to one leading industry firm, the 5G boom could create a global industry worth US$12.3 TRILLION out of thin air…

And if you click here we’ll show you something that could be key to unlocking 5G’s full potential...

Shares of Petrofac climbed 4% to 1,030p in early trade, which reduces the loss the FTSE 100 member has made this year by a fifth to 16%.

The order backlog grew to $21.2bn in the three months ended 30 September, “giving good revenue visibility for the remainder of the year”.

Petrofac, which helps national oil companies rejuvenate mature oil fields, added “our focus remains on the delivery of key operational milestones” on its existing project portfolio. Petrofac only books revenue once these targets are hit.

Net debt stood at $1.1bn at the end of September, down from $1.3bn three months earlier.

Prior to today, the City expected Petrofac to revel earnings per share of 104p in its upcoming annual results, supporting a near-term P/E of 10.

“This Stock Could Be Like Buying Amazon in 1997”

I'm sure you'll agree that's quite the statement from Motley Fool Co-Founder Tom Gardner.

But since our US analyst team first recommended shares in this unique tech stock back in 2016, the value has soared.

What's more, we firmly believe there's still plenty of upside in its future. In fact, even throughout the current coronavirus crisis, its performance has been beating Wall St expectations.

And right now, we're giving you a chance to discover exactly what has got our analysts all fired up about this niche industry phenomenon, in our FREE special report, A Top US Share From The Motley Fool.

Click here to claim your copy now — and we’ll tell you the name of this Top US Share… free of charge!

Mark Stones has no position in any shares mentioned. The Motley Fool owns shares in Petrofac. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors.

Where to invest £1,000 right now

Renowned stock-picker Mark Rogers and his select team of expert analysts at The Motley Fool UK have just revealed 6 "Best Buy" shares that they believe UK investors should consider buying NOW.

So if you’re looking for more top stock ideas to try and best position your portfolio in this market, then I have some good news for your today -- because we're offering a full 33% off your first year of membership to our flagship share-tipping service, backed by our 'no quibbles' 30-day subscription fee refund guarantee.

Simply enter your email address below to discover how you can take advantage of this.

I would like to receive emails from you about product information and offers from The Fool and its business partners. Each of these emails will provide a link to unsubscribe from future emails. More information about how The Fool collects, stores, and handles personal data is available in its Privacy Statement.