Fugro on track for best day in over a year after FY beat
18/02/2022 08:58
** Shares in Dutch deep-sea energy prospector Fugro
FUGRc.AS surge 15% after the group posted better-than-expected
full-year results urn:newsml:reuters.com:*:nFWN2UT0B6
** The company reported Q4 revenue growth of 24.8% and Q4
EBIT margin of 4.3%
** "All headline numbers are better than consensus
estimates, driven by good performance of Marine segment", KBC
Securities says
** The broker notes early signs of improved pricing power
add to the positive results
** "The high O&G prices in combination with a persistent
underinvestment in the sector are expected to trigger a new wave
of investments, taking off from 2022 onwards", KBC says
** Share on track for a best day since October 2020,
including today's rise the stock has gained 19.54 % YTD
(Reporting by Federica Mileo)
((Federica.mileo@thomsonreuters.com))