Revenue surges at Kentz

Engineering firm Kentz said revenue in the first half of the year rose by 48 per cent and pre-tax profit also surged as it prepared to beat previous estimates for the year.

Revenue rose to $643.5 million in the first six months of 2011, compared with $434.3 million a year earlier. Profit before tax was almost 50 per cent higher at $37.7 million, compared with last year's $25.2 million.

Kentz said its expansion in Australia had driven orders there, while it also experienced strong growth in the mining and metals operations, citing good project progress in Southern Africa and the Dominican Republic, and new awards in the Middle East

The company has won a number of new contracts recently, including a $2.3 billion contract with Chevron Australia to work on the Gorgon Project and a $35 million contract with the National Petroleum Refiners of South Africa for shutdown management and execution at the Natref Crude Refinery in Sasolburg.

It has also signed a three-year framework agreement with Shell to provide services in Qatar and was awarded a $33.6 million procurement, construction and commissioning contract for a copper processing plant in Western Saudi Arabia.

Chief executive Hugh O'Donnell said the firm delivered strong growth in the first half of the year.

"Kentz is well-positioned through its unique spread of service offerings to align with the needs of core clients as well as capitalise on new opportunities with leading oil and gas and resource customers across their global operations," he said.