Source - SMW
Petrofac is trading in line with expectations, with US$5.2 billion in new order intake so far this year.

Net debt is forecast to be around US$850 million at 31 December 2017, in line with expectations.

Ayman Asfari, Petrofac's group chief executive, said: "We have seen a recovery in new order intake in 2017, securing US$5.2 billion in new awards in the year to date in both existing and new markets. Tendering activity remains high, we continue to maintain our bidding discipline in competitive markets and we have a healthy order backlog.

"Our portfolio is in good shape, and we remain focused on project delivery and maintaining our cost competitiveness through operational excellence. This - together with measures we are taking to strengthen our balance sheet - positions us well." 


At 9:08am: (LON:PFC) Petrofac Ltd share price was -6.95p at 448.35p