March 3, 2011 / 10:39 PM / 7 years ago

UPDATE 1-ShawCor Q4 results up on North America activity

* Q4 EPS C$0.71 vs C$0.43 yr ago

* Revenue up 12 pct to C$292 mln (Adds details)

March 3 (Reuters) - Energy services company ShawCor Ltd posted a higher fourth-quarter profit, helped by a rise in the number of pipeline projects in North America.

The company sees modest growth in North America in 2011, with further strengthening in 2012 on steady improvement in oil and gas well drilling.

It also expects to benefit from growth in deepwater Gulf of Mexico oil field development in 2012.

October-December net income was C$50.8 million, or 71 Canadian cents per share, compared with C$31.5 million, or 43 Canadian cents per share, a year ago.

Revenue rose 12 percent to C$292 million.

Shares of the Toronto-based company closed at C$36.99 on Thursday on the Toronto Stock Exchange. (Reporting by Amruta Sabnis in Bangalore; Editing by Anne Pallivathuckal)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below