Global engineering group Kentz says it expects to deliver double digits earnings growth this year after bulling in a record orders backlog.
The company, which saw off takeover attempts earlier in the year, saw its backlog until the end of October reach £1.85billion after a strong order intake for the year so far.
The order book for 2014 is also strong, with in excess of 60% of orders already under contract, including work on the giant Gorgon LGN project off the Australian coast.
“It has been a very busy year for the group with record levels of bidding activity,” said chief executive Christian Brown.
“We have already seen successes with new awards in the past few months and we anticipate a number of exciting awards before year-end.
“The diversification of our business has been crucial to the growth achieved in recent years, and with the recent contract awards in new markets combined with working for a strong client base, the board of Kentz expects that this growth will continue into the future.”
Amec and M+W eyed takeover bids for the Jersey-registered firm, which has no central headquarters, but declined to pursue them after a £775million valuation for Kentz.
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