On 3rd July PFC announced that it was trading well ahead of expectations. Not surprisingly, sp jumped but has now fallen back pretty much to the same level as before the announcement.

While perhaps not as exciting as finding the next Cairn, remember that in the goldrush days, it was rarely the prospectors who made the money, but rather the suppliers of the spades and tents and stuff - e.g. Levis if memory serves me aright.

Chief Financial Officer, Tim Weller, purchased 10,000 ordinary shares today.. Encouraging?

one would like to think so but not had a pos+ impact on sp so far (unless... it might have gone down more if there was no purchase!)

as you say, yesterdays Investec downgrading hasn't helped..
let's hope sentiment changes soon.

.

and ?

No further comment. I was just bringing forward the chart from the previous page. Charts seem to be a simple graphic of a stock's performance, regardless of all the research and broker notes that are regularly posted. Not a share I currently hold, but has been on my watch list for quite a long time.

ok thanks

Another contract win: http://www.moneyam.com/action/news/showArticle?id=4413650 Wonder how much that's worth?

market thinks little of it

as usual, pfc brings home great results and sp dumps ..... may buy some more

Possibly the word 'delays' triggered a nervous reaction?

StockMarketWire.com
Oil and gas industry service group Petrofac reported revenue up 20% to $3.2bn for the half-year to end-June (2011: $2.7bn).

Net profit was up 32% to $325.3m (2011: $246.3m).

Earnings per share (diluted) were up 32% to 94.82 cents (2011: 71.84 cents).

Interim dividend is up 21% to 21.00 cents (13.45 pence) per share (2011: 17.40 cents).

The order backlog at 30th June 2012 was $8.9bn (31st December 2011: $10.8bn; 30th June 2011: $11.4bn); in addition Petrofac secured $1.5bn of awards that were pending contract signature at 30th June 2012 and were not included in the backlog.

Net cash balances at 30th June 2012 were $0.8bn (31st December 2011: $1.5bn).

Ayman Asfari, CEO, said: 'We have delivered good operational and financial performance in the first half of the year and remain on course to deliver net profit growth in 2012 of at least 15%.

'Our strategy for future growth is based on three key drivers: geographical expansion; broadening our offshore engineering, procurement and construction capability; and implementing our Integrated Energy Services strategy. As previously indicated, over the past few months we have seen delays in certain contract tender processes with a number of anticipated awards moving from 2012 into 2013. Whilst these delays impact the expected level of 2012 new orders for Onshore Engineering & Construction, we continue to expect our strategy to deliver earnings growth in 2013 and beyond.

'As a result, we remain confident of achieving our target of more than doubling our recurring Group 2010 earnings by 2015.'

almost certainly, though PFC traditionally dumps on results regardless ...... have married money to mouth

Goes ex-divi 19th Sept '12 (21.00¢)

Only minor problem is when to get back in for another upward sprint in SP. Rarely is there a more predictable Ft100 Share then PFC. IMHO.

NOW doesn't look too bad to me - but then i would say that wouldn't i!

Indeed, looks reasonable.

(Digitallook) Petrofac may have announced that it is on track to hit its full-year guidance but Investec has maintained its 'hold' rating and 1,500p target price on the stock, saying that it is 'still worrying about the future'.

"Although 1H12 contract wins have just kept the order book on track (only a 4% decline since December after recent awards), delays in some contract awards to refill the core E&C [Engineering & Construction] backlog will not now occur until 2013, making it more difficult to maintain revenue and profits in this key division and underpin growth forecasts for that year."

This one seems to get more relative down remarks then some.. but surprise surprise nearly always comes back.

OK, permission to rise that SP please -):

Another contract win, all welcome: http://www.moneyam.com/action/news/showArticle?id=4426712

Tim pushing the boat out I see this morning -):http://www.moneyam.com/action/news/showArticle?id=4428188