Amec Foster Wheeler revenue exceeds $3.6b

Amec Foster Wheeler revenue exceeds $3.6b

Oil and gas engineer Amec Foster Wheeler (LSE:AMFW) has grown revenues to more than US$3.6 billion with record results from solar and the North Sea.

The company has reported revenues of $3.7 billion up until 30 June this year, up by 4% on the previous year.

Its trading profit stood at $230 million during this period, beating the company’s estimates of $206 million.

Amec said it’s solar and North Sea results helped offset a weaker performance in its Americas division, which suffered as oil and gas customers cancelled or delayed contracts.

Jonathan Lewis, Amec’s chief executive said: “Our industry continues to face very challenging conditions, with capital projects across natural resources markets being delayed and cancelled in many parts of the world.

“Despite this, we continue to benefit from the diversity of our platform and we remain on track to deliver the operational guidance we gave at the beginning of the year.”

@RGNOnline