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RNS Number : 7333I  
  
Kentz Corporation Ltd  
  
24 November 2008  
  
Kentz Corporation Limited  
  
Operational Update   
  
Doha, Qatar, 24th November 2008: Kentz Corporation Limited ("Kentz" the 
"Company"), the holding company of the Kentz engineering and construction group 
("the Group"), is holding an analyst offsite in Qatar on Monday 24th November. 
Ahead of the trip Kentz released the following operational update:   
  
"We are very pleased to report that the Group's strong performance in H1 2008 
has continued into H2 2008 and we remain confident in meeting analysts' full 
year expectations.   
  
Our backlog continues to be strong, increasing from US$894.5m in July 2008 to 
US$935m at the end of September 2008. Additionally, since the end of September 
we have received new orders and letters of intent from our clients totalling 
US$224m.  
  
Kentz has a well established base of blue-chip clients, which have strong market 
positions in their respective sectors and are well positioned to finance their 
upcoming developments. Our clients consist of international and national oil and 
natural resource companies, along with leading engineering and project 
management companies.  Given the recent fluctuations in the price of oil, it is 
worth noting that our clients take a long term view when considering future 
developments and make a strategic evaluation of oil prices over time in order to 
enable them to grow their reserves and production.  
  
Projects in the Middle East account for the largest part of the Kentz business 
(approximately 63% of revenue), and the cost of exploration and production in 
the region remains relatively low compared to other oil and gas areas. Kentz has 
been established in this region for over thirty years and is well positioned to 
continue to grow in this expanding market.  
  
The Group's cash position continues to be strong and provides a sound financial 
base from which to support our growth plans into the future. Net cash increased 
from US$195.5m in June 2008 to US$201m at the end of September 2008.   
  
We work hard to maintain a thorough understanding of our clients' development 
challenges particularly in the current economic climate.  Looking at Kentz' 
pipeline of potential future projects there have been very few that have seen 
delays or cancellations and none so far that have had a material effect on the 
Group or our outlook for 2008 and 2009.  
  
Despite the current volatility in world markets we continue to see strong demand 
for Kentz services. With our broad base of clients and diversity of operations 
across 22 countries we remain confident for the future."  
  
Hugh O'Donnell  
  
Chief Executive Officer  
  
For more information about Kentz please refer to our website www.kentz.com or 
contact   
  
Evolution Securities Limited (Nomad)   
  
Tel: +44 (0)20 7071 4300  
  
Rob Collins  
  
Tim Redfern  
  
Powerscourt (PR advisors)  
  
Tel: +44 (0)20 7250 1446  
  
Rory Godson  
  
Elizabeth Rous  
  
About Kentz  
  
Kentz listed on AIM on 5 February 2008, raising a total of £66.7m (US$ 131.8m) 
before costs for the Company and its selling shareholders. The Kentz Group 
provides a wide range of engineering and construction services, principally in 
the oil services sector. Our core clients include international oil companies, 
national oil companies and leading engineering and project management companies 
with projects in over 20 countries. Kentz business lines are divided into three 
areas, providing specialist engineering, procurement and construction (EPC) 
services, construction and technical support services.  
  
Kentz currently have in excess of 10,000 employees worldwide delivering projects 
for our core clients in the Middle East, Southern Africa, Australia, Far East 
Russia, the Caribbean, South East Asia, USA, Canada and Europe. For operational 
purposes the Group divides its operational management centres into four 
regions:  
  
 
 * Middle East; 
 * Africa; 
 * Arctic Region and New Areas (containing FSU/Russia, the Caspian region and 
Canada); and 
 * Australasia, Europe and the Caribbean.  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
  END  
  
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