France’s Technip Q1 net profit rises by 7.6%, sales grow by 23%

26 April 2012 06:53  [Source: ICIS news]

SINGAPORE (ICIS)--Technip posted a 7.6% year-on-year growth in its first-quarter 2012 net profit to €112.2m ($147.6m) on the back of a 22.9% increase in sales, the French engineering firm said on Thursday.

The company’s sales for the three-month period ending March 2012 totalled €1.77bn, compared with €1.44bn in the same period in 2011, the company said in a statement.

Technip said its operating income for the quarter grew by 14.1% year on year to €165.2m.

“Our first-quarter performance was very much in line with our expectations, which enables us to reiterate our 2012 financial objectives,” said Technip’s chairman and CEO Thierry Pilenko in the statement.

Technip expects to generate revenue of between €7.65bn-8.00bn in 2012, with total capital expenditure expected to be at €350m-400m.

($1 = €0.76)

By: Pearl Bantillo
+65 6780 4359

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