The holding company of engineering and construction group Kentz Corporation has announced a pre-close trading update ahead of its results for the year ending December 31st.

The group announced a backlog of $2.57bn at the end of December, up 7.0% from December 2011, and an order intake of $1.72bn.

Pipeline prospects increased 32% to $13.2bn and the group had a net cash balance of approximately $220m at the end of 2012.

Christian Brown, Chief Executive Officer of Kentz, commented: "The outlook for 2013 continues to be positive with backlog growing to $2.57bn and over 65% of target 2013 revenues under contract."

He added: "Our success in growing our backlog and sales pipeline is underpinned by our ability to successfully execute projects and secure repeat business from our major clients.

"Against this backdrop we have also added further opportunities to our pipeline of prospects all of which gives us excellent earnings visibility and confidence that we will deliver double digit earnings growth in 2013."

MF

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