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| Fugro continues revenue and profit growth Dutch surveying giant Fugro said the high demand for services from the oil and gas sector is continuing and is related to both the exploration phase and bringing fields into production. The demand for surveys for the mining industry is also high. Involvement in many large infrastructure-related projects results in high capacity utilisation, especially in the United States and the Middle East. During the first months of this year, Fugro's policy of strengthening its activities through acquisitions has resulted in the acquisition of a number of companies with a combined annual revenue of around EUR 65 million. The total acquisition costs amount to around EUR 58 million. In keeping with the situation at the start of the year, the backlog for the rest of the year is substantially higher compared to last year. Barring unforeseen circumstances and a further weakening of the US dollar, it is expected that for the first six months of 2007 the revenue of the company will increase by approximately 20% to around EUR 800 million (first half of 2006: EUR 652 million) and that profit will increase by more than 30% to over EUR 70 million (first half of 2006: EUR 54.1 million). As a result, in the first half of 2007 the net profit margin will improve to around 9% (first half of 2006: 8.3%). write your comments about the article :: © 2007 Construction News :: home page |