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In a stock exchange announcement this morning (28 March) the company said: “Since the listing on AIM in January 2008, Kentz has grown its business considerably, both operationally and financially. Against this backdrop, the board believe it is appropriate for Kentz to seek a listing on the main market of the London Stock Exchange during 2011.”
Kentz began in 1919 as a local electrical contractor based in Co. Tipperary, Ireland. It started operating internationally in the late 1970s when it a project for Fluor in Saudi Arabia provided a launch pad to grow throughout the Middle East and expand its service offerings. Today it has more than 10,000 employees and offices in 27 countries.
In 2010 it grew its revenues by 50% to US$1,057.4m, excluding joint ventures, and pre-tax profits by 52% to $67.5m.
It saw significant growth in revenues in the Australasian market last year with participation in three major LNG developments: Gorgon, Pluto and PNG LNG.
Other highlights of 2010 included the award of a $36m contract from Qatar Petroleum at its Halul Island and entry into Iraq with the acquisition of a 49% stake in Dome General Contracting.
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