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Kentz Corporation continues to perform strongly


Published Nov 19, 2013
Kentz Corporation Limited

Kentz Corporation Limited, the holding company of the Kentz engineering and construction group ("the Group"), releases the following interim management statement in respect of the period since 27 August 2013.

Overview

◾ Strong order intake of US$1.8bn in the first ten months of the year driven by increased bidding activity in H1 ◾ Awarded new contracts in key target growth regions; including the Middle East, Russia and Americas ◾ Record backlog of US$3.0bn at the end of October 2013 (Dec 2012: US$2.57bn, October 2012: US$2.57bn) ◾ Prospect pipeline increased to US$15.2bn at end of October 2013 (Dec 2012: US$13.2bn) ◾ Strong financial position underpinning future growth ◾ Operations continue to trade in line with management expectations ◾ Reiterate guidance to deliver double digit earnings growth in 2013

Christian Brown, Chief Executive of Kentz, said: "Kentz has continued to perform very strongly since we released our interim results at the end of August. It has been a very busy year for the Group with record levels of bidding activity. We have already seen successes with new awards in the past few months and we anticipate a number of exciting awards before year-end.

Tags: Kentz Corporation Limited




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