LONDON (dpa-AFX) - Oilfield services provider Petrofac Ltd. (POFCF.PK, POFCY.PK, PFC.L) reported Thursday that its fiscal 2022 net loss was $310 million, wider than loss of $245 million a year ago.
Business performance net loss was $284 million, compared to profit of $3 million last year.
Revenue dropped to $2.59 billion from prior year's $3.04 billion.
Petrofac said its performance for 2022 was severely impacted by the challenges in its legacy E&C portfolio, which continues to feel the direct and indirect effects of pandemic delays.
The backlog decreased 15 percent to $3.4 billion as of December 31, compared to last year's restated $4.0 billion, reflecting low new order intake in E&C due to industry delays to awards, partially offset by strong order intake in Asset Solutions.
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