Engineering firm Kentz predicts strong revenue growth for 2014

Tipperary-based engineering firm Kentz said its order backlog has increased to record levels and that it expect 2014 to be a year of considerable revenue growth for the group.

Kentz said in an interim management statement that its backlog at the end of April was $4.5 billion, as against $3.1 billion at the end of December and $2.8 billion for the same month a year earlier.

It added that its order intake stood at $1.8 billion in April 2014, as against $1.7 billion last year.

Kentz, which specialises in helping larger industrial customers to develop oilfields and gasfields, said its prospect pipeline rose to $16.3 billion from January to April, compared to $15.6 billion in December and $13.7 billion for April 2014.

“We have had an excellent start to 2014 and are extremely pleased with the order intake to date. We have identified other exciting project opportunities across all business units and regions which we expect will continue to provide Kentz with significant growth,” it said.

“Overall, we are confident of delivering on our targets for 2014 and remain focused on continuing to grow our company in 2015 and beyond,” the group added.