Petrofac orders 'will underpin targets'

Aberdeen-based Petrofac, whose shares have slipped by 20% since April, said a strong order book would underpin its profit targets.

The oil and gas services group, which employs 4000 people in the north-east and offshore, said it had a contract pipeline worth $1.1 billion (£687 million) awaiting signature, giving confidence on its profit targets for the current year and the longer term.

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