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Kreuz Holdings Limited will be releasing its financial results for the second quarter ended 30 June 2011 on 29 July 2011.
Let's see how this performs and is it strong enough to reach 0.50.
Kreuz: secured contracts worth US$44m for various subsea works to be performed in Indonesia and Thailand. US$32m is attributed to parent, Swiber, with the remainder from a third-party customer. The latest orders come less than a month after co announced US$24.8m contract wins and suggests continued momentum in the offshore services space.
Stock currently trades at 11.2X P/E. DnBNOR has a Buy rating with TP $0.50.
Kreuz Holdings, the subsea service provider for the oil and gas industry, says it has secured subsea installation contracts worth US$4.8 million ($5.9 million) with a leading offshore company in the oil and gas business located in East Asia.
Work is expected to commence in Q2 2011 and to be completed by Q3 2011.
In addition to the above contract wins from the third party, Kreuz has secured the subsea portion of the installation works from Swiber worth approximately US$20 million. These projects are located in Southeast Asia and South Asia. Work is expected to commence between Q2 2011 and Q4 2011 and to be completed by Q2 2012.
/theedge///
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