Petrofac reports 14% rise in full-year profit on higher operating income – The National

Petrofac reports 14% rise in full-year profit on higher operating income – The National

Petrofac, the London-listed oilfield services firm with offices in Sharjah, reported a 14 per cent increase in full-year profit as operating income rose and expenses dropped.. Net profit attributable to shareholders for the period ending December 31, climbed to $73 million (Dh268m), the company said in a filing to the London Stock Exchange, where its shares trade.. The company has new order intake of $3.2bn and backlog of $7.4bn as of the end of last year.. In Algeria, Oman and the Netherlands, new order intake amounted to $2.1bn, it said.. Petrofac said net profit "was negatively impacted by exceptional items and certain re-measurements of $203m, of which about $172m were non-cash items.". The agreement to sell Petrofac's remaining 51 per cent in its operations in Mexico triggered a non-cash impairment charge of $49m, according to the company.. The board proposed a final dividend of 25.3 cents per share, which will be paid on May 22 to eligible shareholders.. Together with the interim dividend of 12.7 cents per share, this brings the total dividend for the year to 38.0 cents per share.. Earlier this month, the company won two major contracts from Abu Dhabi National Oil Company to construct offshore facilities