AMEC Benefits From North Sea Drilling Contract

LONDON -- Shares in AMEC  (LSE: AMEC  ) lifted 2% in early trade, putting on 23 pence to reach 1,102 pence following the release of its interim management statement.

Trading for the year to date was confirmed as being in line with the British multinational consultancy, engineering and project management company's previous expectations, and guidance remains unchanged from the final results issued mid-February, which saw the dividend increased by 20%.

Management stated that the order intake and forward visibility "remained good", up to £3.7 billion compared to December 2012's figure of £3.6 billion and equal to March 2012's figure.

Chief executive Samir Brikho commented:

We continue to see good growth in conventional oil & gas, with new contract awards, such as the £68 million contract to deliver the hook up and commissioning services for the two new Clair Ridge platforms for BP and its co-venturers, boosting activity in the North Sea in particular.

The acquisitions made in 2012 are integrating well and the pipeline of further acquisition opportunities remains good. We remain on track to achieve our targeted EPS of greater than 100 pence ahead of 2015.

AMEC yields around 3.4% currently, with 3.7% forecast, but why not check out our new special free report if you're after more? "The Motley Fool's Top Income Share for 2013" could offer a 5.6% income, and might be worth 850 pence versus around 785 pence now. Simply click here to download the report now.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Compare Brokers

Fool Disclosure

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2346535, ~/Articles/ArticleHandler.aspx, 9/26/2016 1:44:14 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...

Today's Market

updated 2 days ago Sponsored by:
DOW 18,261.45 -131.01 -0.71%
S&P 500 2,164.69 -12.49 -0.57%
NASD 5,305.75 -33.78 -0.63%

Create My Watchlist

Go to My Watchlist

You don't seem to be following any stocks yet!

Better investing starts with a watchlist. Now you can create a personalized watchlist and get immediate access to the personalized information you need to make successful investing decisions.

Data delayed up to 5 minutes

Related Tickers

11/13/2014 12:11 PM
AMEC $1055.42 Down -2.58 +0.00%
Amec CAPS Rating: No stars