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Oil, gas mining engineer Kentz's profit rises 32 pct

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(Globalpost/GlobalPost)

(Reuters) - British engineer Kentz Corp Ltd <KENZ.L> reported a 32 percent rise in full-year profit as demand for its services from the oil and gas industry continued to grow.

The company, which provides engineering, construction and technical support services to the oil and gas and mining industries, said its backlog at the end of February increased to $2.73 billion (1.79 billion pounds), up 6 percent from December.

The pretax profit rose to $104.8 million (68.8 million pounds) in the year ended December 31 from $79.4 million (52.1 million pounds) a year earlier. Revenue increased 6 percent to $1.56 billion (1.02 billion pounds).

Analysts on average had expected a pretax profit of $96.6 million (63.4 million pounds) and revenue of $1.46 billion (958.82 million pounds), according to Thomson Reuters I/B/E/S.

Kentz raised its final dividend to 9 cents per share from 7.3 cents a year earlier.

Shares in the FTSE 250 company closed at 414.7 pence on the London Stock Exchange on Friday.

(Reporting by Karen Rebelo in Bangalore; Editing by Maju Samuel)

http://www.globalpost.com/dispatch/news/thomson-reuters/130325/oil-gas-mining-engineer-kentzs-profit-rises-32-pct