UK's Petrofac falls as H1 loss swells

Petrofac

30/09/2024 08:32

** Shares of oilfield services provider Petrofac  PFC.L 
down 19.3% at 15.8p
    ** Co says H1 operating loss swells to $152 mln from $79 mln
last year amid difficulty in closing legacy contracts in its
engineering & construction (E&C) division
    ** Says operating activity in E&C, its biggest division, is
expected to be higher in 2024 than prior year, but still
sub-scale
    ** Says H1 reported revenue increased to $1.24 bln from
$1.23 bln last year
    ** PFC has fallen about 59% YTD

 (Reporting by Yamini Kalia in Bengaluru)
 ((Yamini.Kalia@thomsonreuters.com;))