Kentz Corporation – great trading update
Kentz Corporation, the AIM quoted engineering and construction group with a focus on oil and gas markets issued a highly positive trading statement ahead of its full year results for 2010 which are expected to be announced in late March 2011. In a weak market Kentz shares were up 8% as I write.
The strong performance reported at the time of the Interim Results in September 2010 has continued through the second half of 2010 with significant natural growth from current contracts and increased demand for the group’s services across the three Global Business Units (GBUs); Engineering, Procurement and Construction (EPC), Construction, and Technical Support Services. They now expect that revenues and profits for 2010 will be significantly ahead of current market expectations for the year – prior to the update consensus expectations were for Consensus pre-tax profit of £34.37m earnings per share of 20p and dividend per share of 4.83p. The Backlog…