UK-based Petrofac, a provider of facilities solutions to the oil and gas industry, has reported that its revenues were up 14% to $1.1 billion for the first half of 2007.
The company’s EBITDA was up 55% to $137.3 million, while net profit was up 47% to $77.2 million.
Ayman Asfari, Petrofac’s group chief executive, said: I am delighted to be able to report that Petrofac has continued to perform well in the first half of 2007. Continued excellent project execution allowed our engineering & construction division to deliver another period of strong net margins and profit.