LONDON (dpa-AFX) - Energy services company Petrofac Limited (POFCF.PK) Thursday reported a loss before tax of $160 million for the first half compared with earnings of $34 million in the same period a year ago, primarily due to lower Engineering and Construction (E&C) revenue.
On net basis, the company posted loss of $165 million or 31.9 cents per share compared with profit of $39 million or 7.5 cents per share last year.
Revenue for the period declined to $1.207 billion from $1.247 billion in the previous year. The company said its E&C revenue decreased 32% to $469 million as legacy contracts near completion.
Copyright(c) 2023 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX