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>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 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

EXPLORATION AND PRODUCTION OFFSHORE CONGRESS HUB 2019

During the last few years Oil&Gas sector had a difficult time surviving in brutal low-price environment…

read more >

Brasil Offshore 2019

The commemorative 20th anniversary edition of Brasil Offshore will be held under the auspices…

read more >

Subsea EMEA 2019

Subsea EMEA, the elite submarine cable-focused event hosted by Capacity Media, will return for its third year situated…

read more >

9th International Conference Offshore Foundations

Offshore Foundations is a technical event for experts in the wind industry. The goal is to push forward technical development for future foundation concepts.

read more >