Petrofac Ltd (OTCPK:POFCY)
$ 0.0555 -0.0066 (-10.63%) Market Cap: 65.12 Mil Enterprise Value: 818.87 Mil PE Ratio: 0 PB Ratio: 0 GF Score: 51/100
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Full Year 2020 Petrofac Ltd Pre-Close Trading Statement Call Transcript

Dec 16, 2020 / 08:00AM GMT
Release Date Price: $1.08 (-2.70%)
Operator

Welcome to the Petrofac analyst and investor call. (Operator Instructions) Just to remind you, this conference call is being recorded. Today, I am pleased to present Alastair Cochran, CFO. Please begin your meeting.

Alastair Cochran
Petrofac Limited - CFO & Executive Director

Good morning, everyone. Thank you for joining our regular pre-close trading update call. I will make some brief comments on our statement before opening the line for questions.

Overall, the group is trading in line with expectations for 2020 as we approach the year-end. Financial performance in the second half has continued to be impacted by COVID-19. However, we have continued to deliver projects for clients throughout this difficult environment, whilst doing everything within our control to protect the health and well-being of our employees, subcontractors and communities. Furthermore, the swift and decisive actions we took, to protect the long-term health of our business in Q2 and reduce overhead costs by $125 million this year, have protected margins and cash flow. As a

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