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.
◾ 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.