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>

<< Sep 2019 >>
MTWTFSS
26 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 1 2 3 4 5 6

Europort 2019

Europort, organised in the world port city of Rotterdam, will be the leading exhibition for special purpose vessels…

read more >

2019 SPE Annual Technical Conference and Exhibition (ATCE)

As one of the largest gatherings of E&P professionals, ATCE includes an extensive technical program covering…

read more >

Offshore Energy Exhibition & Conference 2019

Offshore Energy thematic sessions addressed the full life-cycle in the oil and gas and energy industry, starting with Exploration…

read more >

OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

read more >