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.

StockMarketWire.com
Petrofac (PFC) said it expects to deliver net profit in 2016 in line with previous guidance and that it is expected to be broadly evenly split between the first and second half of the year.

The group backlog stood at $18.9 billion at 31 May 2016 (31 December 2015: $20.7 billion), giving excellent revenue visibility.

Petrofac achieved an order intake of approximately $0.8 billion in the year to date, mainly in engineering and production services and strong bidding pipeline for 2017.

Net debt is expected to increase to around $1.1 billion at 30 June 2016 (31 December 2015: $0.7 billion), reflecting payment of the 2015 final dividend and capital expenditure on owner furnished equipment for the JSD6000 and on the Greater Stella Area development.

Petrofac chief executive Ayman Asfari said: "We are well-positioned in what is a challenging environment for the industry and we remain focused on our core proposition: strong project execution, a clear geographic focus, a disciplined approach to bidding and continued emphasis on cost management to maintain a sustainable, cost-effective structure.

"Our backlog gives us excellent revenue visibility for this year and beyond, and we are very active bidding on a strong pipeline of new opportunities as our clients continue to invest in our core markets.

"In IES, we remain committed to reducing the capital intensity of the portfolio and we expect to demonstrate significant progress over the remainder of the year."

April announcement:
"Petrofac has won a contract to operate a cluster of North Sea oil and gas fields for a new Malaysian investor.
The five-year deal, worth $250m (£174m), is for the Anasuria cluster, including the Teal and Guillemot fields.
The assets were bought from Shell and Esso last year by two companies based in Malaysia - Hibiscus Petroleum and Ping Petroleum.
They paid $105m (£73m) and have 50% each.
They have formed a joint venture known as Anasuria Operating Company (AOC).
Petrofac, a specialist oilfield services company, has won the contract to run the full range of operations in the cluster of fields, also including a 39% stake in the Cook field. They lie about 175km (109 miles) east of Aberdeen.
That is expected to secure 65 jobs, as workers are transferred across to Petrofac.
'Positive development'
Walter Thain, of Petrofac, said: "AOC's acquisition of the Anasuria cluster is really an investment in the future of the North Sea, and it is a positive development for our industry during these challenging times.
"We aim to support AOC as they work to realise their vision for Anasuria to increase production and extend the life of field."

Societe Generale today reaffirms its buy investment rating on Petrofac Ltd (LON:PFC) and cut its price target to 921p (from 1036p).

Barclays Capital today reaffirms its overweight investment rating on Petrofac Ltd (LON:PFC) and cut its price target to 1165p (from 1250p).

Jefferies International today upgrades its investment rating on Petrofac Ltd (LON:PFC) to buy (from hold) and cut its price target to 835p (from 855p).

Deutsche Bank today initiates coverage of Petrofac Ltd (LON:PFC) with a hold investment rating and price target of 770p.

Liberum Capital today reaffirms its buy investment rating on Petrofac Ltd (LON:PFC) and set its price target at 1000p.

"Oil services company Petrofac said it made a $12m first half net profit compared with a $182m loss in the same period last year.
Revenue rose to $3.9bn from $3.2bn, helped by record levels of activity and expected to deliver full year results in line with expectations with a net profit of around $440m.
Petrofac booked a $123m exceptional charge for the first half and said profit excluding losses on the delayed Laggan-Tormore project were $236m. It said it had a strong bidding pipeline for engineering & construction for the second half of this year and into 2017.
The interim dividend was held at 22 cents a share.
“We have delivered a positive set of results for the first half of the year, reflecting good project execution. We are on track to meet expectations for the full year 2016 and our high level of backlog gives us excellent revenue visibility for 2017,” said chief executive Ayman Asfari."

Petrofac tells Tunisia it starting shutdown over protests - official, source

TUNIS, Sept 21 (Reuters) - British oil and gas industry services company Petrofac has told Tunisia's government it has started to shut down its local operations after months of protests disrupted gas output, a government official and a Petrofac source said on Wednesday.

Petrofac, which supplies around 13 percent of the North African country's domestic gas needs, sent a letter to the government saying it had begun the process of leaving Tunisia, the two sources said.

Prime Minister Youssef Chahed was holding an emergency meeting with defence and interior ministers to find a solution to the Petrofac situation and end the crisis.

Petrofac representatives were unable to give an immediate comment

StockMarketWire.com
Petrofac said in a pre-close trading update that its FY net profit is expected to be c.$410m in 2016, in line with previous guidance.

"We are on track to deliver positive results in 2016 in line with guidance reflecting record revenues, solid operational performance across all of our businesses and the delivery of significant cost savings," said CEO Ayman Asfari in a statement.

"We also continue to make good progress on our strategy to refocus on our core strengths and reduce capital intensity. During the year we exited the Berantai Risk Service Contract in Malaysia and Ticleni Production Enhancement Contract in Romania."

OTHER HIGHLIGHTS:
- Group (excluding IES) is expected to deliver a better than expected net profit of c.US$465 million: IES is expected to report a loss of c.US$55 million, predominantly reflecting low realised oil and gas prices and a change in depreciation policy

- Results will benefit from record revenues, improved operational efficiency and a c.25% reduction in headcount during the year

- Group order intake of US$1.4 billion reflecting challenging market conditions. Group backlog of US$14.5 billion at 30 November 2016 (30 June 2016: US$17.4bn)

- Reducing capital intensity with c.US$300 million of proceeds from Berantai RSC exit

- Net debt currently expected to be around US$0.9 billion at the year-end (30 June 2016: US$0.9bn).

Canaccord Genuity today reaffirms its hold investment rating on Petrofac Ltd (LON:PFC) and raised its price target to 925p (from 900p).

StockMarketWire.com
Petrofac has signed a contract worth close to $600m with Salalah LPG SFZCO LLC (SLPG), wholly owned subsidiary of Oman Oil Facilities Development Company LLC (OOFDC), to undertake the engineering, procurement and construction (EPC) of its Salalah LPG extraction project in the southern part of Oman.

Under the terms of the 36-month lump sum EPC contract, which will be triggered when SLPG issue to Petrofac the Notice To Proceed (NTP), Petrofac's scope of work will include construction of the liquefied petroleum gas (LPG) unit and associated facilities, including tie-ins to existing pipeline infrastructure, together with LPG storage and jetty facilities at the Port of Salalah.

Down nearly 5% what's occurring?

probably nothing
PFC has a nasty habit of dumping on a whim

Can you be more specific )-;

not easily, but if you look at the chart, you will see that every so often, sp just dives, and a x-check would show that there may well be no obvious cause

it can go the other way too

all aka a volatile stock :-)

This is true as you say but staying on the fence just in case.

i followed it for years though i don't hold at the moment

Yes me to no stamp duty with these either for those buying shares.

I'm in.

it's one of the best in its sector
only question is whether or not it is a good sector to be in ...... probably is my view

PFC Certainly worth staying clear after March over the last 5 yrs according to their chart.

need to check, but i'ld guess that is immediately following their figures, regardless of how good they look