Amec says trading in line, still hunting for acquisitions
LONDON (Reuters) - British engineering firm Amec said on Tuesday it was on track to meet 2013 guidance boosted by strong performances in the UK North Sea and the U.S. Gulf of Mexico.
The group said its pipeline for acquisition "remains strong," and reiterated that it would consider returning cash to shareholders this quarter if no acquisitions are made.
The company, which provides services and equipment for the oil and gas, mining, nuclear and renewable energy sectors, revised down its revenue target in August saying it expected 2013 revenue to be flat on last year due to weakness in its mining division, having earlier forecast low-to-mid single digit growth.
Amec did not give a forecast for revenue or profit, but analyst consensus estimates 2013 core profit (EBITA) of 344 million pounds with revenue of 4.1 billion pounds.
(Reporting by Stephen Eisenhammer, Editing by Paul Sandle)
