Kentz Corp comes up with the goods

Kentz Corp was previously mentioned in these posts and reported impressive numbers to the market today. Initially the price surged around 4% only to fall back as the day went on as the market decided that concerns about Cyprus and Italy put financial fears back on the agenda. Despite this the shares finished around 2% up. Still, Kentz did more than what the market was expected and still looks value compared to others in the sector.

Kentz Corporation reported a 32 per cent rise in annual pre-tax profits as the engineering and construction group scored new contracts and expanded its operations. 

Profit before tax for the year to the end of December 2012 came to $104.8m, up from $79.4m in 2011. 

Revenues jumped 6.0% year-on-year to $1.56bn, driven by the award of three technical support services contacts in Iraq. 

Earnings before interest, tax, depreciation and amortisation (EBITDA) grew 22% to $118.5m. 

"We have ended 2012 with confidence that our future outlook continues to be positive," said Chief Executive Officer Christian Brown. 

http://www.digitallook.com/cgi-bin/dlmedia/security.cgi?csi=1168947&action=news&story_id=20781854