Kentz’s work backlog jumps by 52%

KENTZ, the oil and gas industry construction company, said its backlog of work had risen 52% at the end of the third quarter, compared to the second, and predicted continued double-digit earnings per share.

Chief executive Hugh O’Donnell said the company’s clients, mainly big international oil groups such as Exxon Mobil, were continuing to invest in new projects such as liquefied natural gas terminals, despite global economic uncertainty.

Analysts said the $2.4 billion (€1.77bn) backlog, which amounts to around two years of work for the Irish company, left Kentz with one of the clearest earnings streams of any European oil services group.