26/03/2012 - 15:22

Kentz grows Australian earnings by 26 per cent

26/03/2012 - 15:22

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UK-based engineering group Kentz says it lodged a 26 per cent increase in revenue across its Australasian operations for the year ended December 31, driven by increased activity in Western Australia.

Kentz today said it delivered revenue of $US1.37 billion for the year (up 30 per cent), with the Australian region accounting for $US236 million (up 26 per cent).

The company said its overall profit before tax was up 18 per cent, to $US79.4 million.

Kentz has won work on four major liquefied natural gas (LNG) projects in the Australasian region, namely Pluto, Gorgon, PNG and most recently Queensland Curtis.

Work on these projects has seen the group increase its regional staffing to nearly 1,000 positions.

Its largest contract, worth $US2.3 billion is a joint venture with US company CB&I for the mechanical, electrical and instrumentation work on the Gorgon LNG project on Barrow Island.

Kentz continues to see considerable ongoing investment in LNG liquefaction and in the mining industry taking place in the Pacific Rim over the mid to longer term,” Kentz Australia manager Brian Kelly said in a statement.

“It is an exciting time to be working in Australia, with the buzz of an expanding team and the challenge of delivering for leading energy and resource companies on some of the most dynamic projects anywhere in the world.” 

 

 

 

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