LONDON (dpa-AFX) - Petrofac Limited (POFCF.PK, PFC.L) reported that its net profit for fiscal year 2018 was $64 million compared to a loss of $29 million in the prior year.
The reported net profit of US$64 million was impacted by exceptional items and certain re-measurements of US$289 million, of which approximately US$265 million were non-cash items.
Revenue was $5.829 billion down from $6.395 billion in the prior year.
The final dividend will be paid on 24 May 2019 to eligible shareholders on the register at 26 April 2019. Shareholders who have not elected to receive dividends in US dollars will receive a sterling equivalent.
Looking forward, the company said it is well-positioned for 2019 with good revenue visibility. Whilst it has a busy tendering pipeline and is well-placed on a number of bids, there is a higher degree of uncertainty in the level of awards in the near-term. It is nevertheless targeting a book to build of greater than one.
The Company today announces that Francesca Di Carlo will be appointed as a Non-executive Director with effect from the Annual General Meeting on 3 May 2019. Francesca is Group Executive Vice President of Human Resources and Organisation at Italian multinational energy company Enel Spa. Previously Francesca held roles in strategy and audit with ENEL Group.
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