Clonmel-headquartered global engineering firm Kentz says its revenues for the six months to June rose by 32% to $434.3m, while profits before tax rose by 36% at $25.2m.
The company, which works in the oil, gas and mining sectors and operates in some of the most remote locations on earth including Russia, Australia and Africa, says this was a solid performance and that the outlook is positive.
The group said its backlog of work by the end of June stood at $1.6 billion from up $1.1 billion the same time last year. It is also working on bids and proposals for prospects for key projects that are under development valued at over $3.6 billion.
The company this morning announced a new €36 billion contract with Qatar Petroleum at Halul Island in Qatar and it added that the Middle East continues to provide it with significant opportunities.
'Our strategy of focusing on oil and gas, petrochemicals and energy projects in developing regions has been highly successful, and we continue to build on the strong foundations in our core markets,' commented company CEO Hugh O'Donnell.
'In addition, we have seen a significant increase in our metals and mining business in Southern Africa and Australia, which we expect to continue in the long term,' he added.
'We have strong foundations in all the markets in which we operate and this, along with the underlying volume of projects and the continued demand for our numerous services, gives us significant optimism for the future success and prosperity of Kentz,' he said.
