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| Dutch Fugro reports good half-yearly figures  The growth in Fugro's revenue and result continues in the second half of 2006. In line with the earlier announced outlook, the revenue for the full year will be approximately EUR 1.4 billion (2005: EUR 1.16 billion). Barring unforeseen circumstances the net result for 2006 is expected to be at least EUR 135 million (2005: EUR 99.4 million). This results in an increase of the net profit margin to more than 9.5% on an annual basis (2005: 8.6%). Of the increase in revenue of around 20% on an annual basis, approximately 17% will be achieved through organic growth and 4% as the result of acquisitions. The net effect of currency fluctuations is expected to be around minus 1%.The demand for Fugro's oil and gas related activities remains strong worldwide. This concerns the search for new fields (seismic survey) as well as services for the development of (new) offshore fields. The demand for exploration surveys for the mining industry also remains strong. The infrastructure related services have a high utilisation in the Middle East and show further improvements elsewhere, in particular in the United States. The extra investment - as announced earlier this year - of around EUR 100 million in new equipment for capacity expansion is progressing according to plan, but will only start to fully contribute to the further growth in the course of 2007. The seismic survey vessel 'Geo Atlantic' has successfully commenced its operations in the course of October 2006. The 'Geo Barents' will be launched at the beginning of January 2007. write your comments about the article :: © 2006 Construction News :: home page |