TGS Ups Profit

Geophysical contractor TGS has posted fourth-quarter 2017 net profit of $55 million, compared to profit of $29 million in the same period in 2016.

This comes down to quarterly earnings per share (fully diluted) of $0.53, against $0.29 profit per share same time last year.

The Oslo-listed firm generated revenues of $157 million in Q4 2017, compared to $165 million in Q4 2016. Full year 2017 net revenues were $492 million, up 8% from $456 million in 2016.

Operating profit for the quarter (EBIT) was $52 million compared to $42 million in the prior-year comparable quarter.

TGS reported backlog was $82 million at the end of the fourth quarter 2017, up 60 percent from the corresponding period in 2016, and 60 percent up sequentially.

Full-year earnings per share (fully diluted) were 73 cents, up from 28 cents in 2016.

Quarterly dividend increased to 20 cents per share.

Subsea World News Staff

Share this article

Follow Subsea World News

Events>

<< Mar 2020 >>
MTWTFSS
24 25 26 27 28 29 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

9th Annual Submarine Power Cable and Interconnection Forum

This year’s Advance Submarine Power Cable and Interconnection conference will focus on the cutting edge thinking that is emerging across…

read more >

The 24th Annual PNEC Conference & Exhibition

The 24th annual PNEC Conference and Exhibition  will bring together the industry thought leaders and technology providers that enable the management…

read more >

OWI APAC 2020

Over the two-day conference, 30 expert speakers will share exclusive insight to help drive well work efficiencies through innovative…

read more >

M&CCE Expo Marine & Coastal Civil Engineering 2020

This conferences, events, demos, and competitions provide a productive background buzz throughout M&CCE…

read more >