Gas, oil sector boosts Fugro profits

Geotechnical services company Fugro announced on Friday that net profit rose 27% to just over €109m in the first half of 2008 compared to the same period a year ago.

Results were boosted by continued demand for services from the oil and gas industry – which accounts for 75% of its turnover – and higher than analysts expected, reports ANP news service.
Turnover went up 20% to almost €100m in the first half of the year, said Fugro.
The long term forecast for further growth is also positive, the company said. It expects full-year profit to be €270m on turnover of over €2bn on the basis of a reasonably stable exchange rate.

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