Kentz reports 50% rise in first-half profits

CLONMEL engineering firm Kentz posted a 50% rise in first-half pre-tax profit, driven by its construction and technical support services units, and said it expected to exceed its previous targets for the full year.

Kentz, whose clients include Chevron, Royal Dutch, Shell, BP and Exxon Mobil, also raised its interim dividend by 67% to 5 cents per share.

Analysts expect the company to post a full-year pre-tax profit of $73.1 million (€50.6m) on revenue of $1.14 billion, according to Reuters.