RE: 40p going to go27 Dec 2023 09:51
Petrofac Ltd, up 19% at 39.14 pence, 12-month range 14.58p-91.05p. The energy infrastructure firm adds to last week's gains, rising 74% over the past week. Last Wednesday, it had announced that it has seen "exceptional" new order intake across Engineering & Construction and Asset Solutions, totalling USD6.8 billion in 2023 so far. It expects the backlog to be around USD8.0 billion by the year. It also announced the second contract award under the six-project USD14 billion framework agreement with TenneT, working alongside Hitachi Energy, with Petrofac's portion of the contract worth around USD1.4 billion.