Updates

Kentz - Record US$1.5bn order book

February 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares moved to a new high ahead of results due in late March. Kentz has said that performance in 2009 was strong and that it expects to report profit in line with expectations, indicating a pretax profit of US$42.5m and eps of 26 cents. That compares to US$42.3m pretax and eps of 25.1 cents the year before.The order book has increased by 50% year-on-year to US$1.5 billion at the end of December and has been boosted by a higher proportion of Specialist EPC work, which bodes well for margins. Key wins were in Australian LNG projects, projects in Sub-Saharan Africa and in the Middle East. The order book comes with a very short tail with US$660m scheduled to be carried out this year, which underpins this year's forecast of US$51. ...

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