Petrofac result good performance across all businesses

Petrofac has announced final results for the year ended 31, December 2016. It has reported good operational performance across all businesses. There is an underlying net profit of USD 421M. The reported net profit includes post-tax impairments, as well as exceptionals of USD 319M. Also, the new order intake of USD 1.9B; backlog of USD 14.3B gives excellent visibility for 2017. The net debt down 10% to USD 617M , reflecting strong cash generation and capex rephasing. Full year dividend was maintained at 65.80 cents per share.

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