Shares digital

Petrofac (PFC) – Finals PTP: £128.62m (£87.44m) Divi: 5.74p (2.39p)

The numbers were at the top end of expectations and the group’s order book stands at more than $4.4 billion. Although, despite increasing M&A speculation surrounding the sector, the UK-based company says it has received no approaches. This clearly disappointed investors hoping for takeover premium and saw the shares fall around 6% on the day to 527.5p, although they have since perked up, rising to 564p.

The main challenge for the company, as identified by chief executive Ayman Asfari, lies in recruiting the quality people it needs in order to grow – a common complaint in the North Sea oil and gas industry. Asfari adds: ‘We are feeling a lot more positive about the outlook in terms of new business at the beginning of this year than we did last year because of the amount of bids in the pipeline.’

Shares says: Though its prospects remain strong the company does face capacity constraints.

by: Tom Sieber