Petrofac: Creating Opportunities To Secure Future Growth [Seeking Alpha]
PETROFAC LTD UNSP/ADR (POFCY)
NASDAQ:AMEX Investor Relations:
petrofac.com/en-gb/investors
Company Research
Source: Seeking Alpha
Petrofac: Creating Opportunities To Secure Future Growth Summary Petrofac’s backlog has decreased significantly since 2015; however, increased tendering activities can lead to higher revenue growth potential in 2020. The U.K. authority’s investigation into an alleged unfair trade practice can affect its participation in the tendering process in Saudi Arabia and Iraq. Petrofac’s cash flow from operations improved in 1H 2019, while its net debt turned negative, which reflects the balance sheet strength. Despite Short-Term Headwinds, Petrofac's Growth Can Resume Petrofac Limited ( OTCPK:POFCF The company has been divesting non-core assets to clean up its leveraged balance sheet and has turned net debt negative. Alongside this, the free cash flow has turned positive, too, in 1H 2019. However, its order intake declined as the brownfield projects market remained challenging. Also, negative sentiment following the U.K. authority's investigation can restrict the company's opportunities to par
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News
- UK's Petrofac says still grappling with challenging contracts, shares tumble [Reuters]Reuters
- Institutions own 26% of Petrofac Limited (LON:PFC) shares but retail investors control 57% of the company [Yahoo! Finance]Yahoo! Finance
- UK's Serious Fraud Office charges two former Petrofac executives with bribery [Reuters]Reuters
- Former Petrofac Bosses Charged With Bribery by SFO [BNN Bloomberg (Canada)]BNN Bloomberg
- Two men charged with bribery over Petrofac contracts, UK court listing show [Reuters]Reuters