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Buoyant results for KCA - News for the Oil and Gas Sector

Second quarter results from Aberdeen-based drilling giant KCA Deutag yesterday showed a big jump in both profits and revenue.

Earnings before interest, tax, depreciation and amortisation for the April-June came in at £60.34 million, up from £40.8m a year earlier. Revenue soared to £320.45m in the latest period, from £237.45m.

KCA Deutag said it had a contract backlog worth nearly £4.4 billion with “blue-chip” customers.

It added: There was a slight reduction in profitability in our North Sea operations compared to the first quarter, as a result of higher personnel costs associated with overtime, sickness and waiting on weather delays.”

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Craigmill, Pitcaple, Inverurie, Aberdeenshire, United Kingdom, AB51 5HP
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