LONDON, Feb 14: British engineering firm AMEC said its annual earnings were up 11 percent thanks to a surge in oil and gas revenue, enabling it to offer a 20 percent hike in its dividend.
The FTSE-100 company posted earnings before interest, tax and amortisation (EBITA) of 331 million pounds ($514 million), 11 percent higher than in 2011, and in line with an average forecast of 329 million in a company-supplied poll.
AMEC, which serves customers such as ConocoPhillips, GDF Suez and Centrica across the mining, oil and gas, nuclear power and renewable energy industries, said on Thursday that its order book stood at 3.6 billion pounds at the end of December, compared to 3.7 billion a year ago.
It forecasts further growth in its conventional oil and gas revenue, offsetting a weakening in the mining and oil sands markets.
The company proposed a dividend of 36.5 pence per share.
Shares in AMEC, which have gained 10 percent since the start of the year, closed at 1,124 pence on Wednesday, valuing the group at around 3.4 billion pounds.
($1 = 0.6433 British pounds)
(agencies)
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