Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/expro-celebrates-its-40th-anniversary-year-with-st.shtmlExpro celebrates its 40th anniversary year with strong financial results for 2013
Expro has announced strong annual results for the year ending March 2013,
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Expro has announced strong annual results for the year ending March 2013, which highlights an increase in revenue of 18.5% to $1.2bn on the previous year, or 20.6% on a constant currency basis.
These results were driven by a growth in activity across the company’s eight business units, combined with a shift in the business mix towards higher value subsea safety systems and production systems. This delivered a higher operating margin of 24.2% and Headline EBITDA growth of 44.7%, to $290.8m.
Strong performance continued in Expro’s largest business unit, Europe CIS, with revenue growing by 13.6%. This was driven by increased well testing business in the UK and subsea and drill stem testing activity in Norway.
Sub-Saharan Africa revenue closed 15.4% higher than the previous year, which was bolstered by enhanced subsea activity in Angola and well testing demand across the region.
