German engineering services giant Bilfinger said oil and gas demand was improving, as it posted improved pre-tax earnings for its Q2 results.
The firm has pre-tax earnings of £16million, up from a loss of £62.5million in the same period last year.
Revenue saw a 6% increase to £937.8million.
Bilfinger said the economic environment continues to improve for oil and gas, particularly n trhe Middle East and USA.
CEO Tom Blades said: “We continued to improve our operating performance.
“We have achieved the milestones that were set for the stabilization and have now completed this phase of Strategy 2020.
The increase in orders received clearly shows that we have taken the right steps in our strategic positioning, supporting profitable growth in the build-up phase.”
Last month Mr Blades told Energy Voice it has plans to expand its UK North Sea footprint.
Recommended for you
