(Reuters) -Italian engineering group Maire reported a nearly 42% jump in its nine-month net profit to 204.8 million euros ($238.8 million) on Thursday, boosted by a timely execution of projects in the Middle East and North Africa.
The company booked 5.8 billion euros worth of new orders in the first nine months of the year, bringing its order backlog to 13.9 billion euros. Revenue rose 26.7% to 5.23 billion euros in the same period.
The Milan-based group expects its annual revenue and profitability to reach the top end of the forecast ranges it had upgraded after the first half of the year.
“With an almost 14 billion euro backlog at the end of September and a strong pipeline of opportunities, we are well positioned to navigate evolving market dynamics and sustain a solid growth trajectory, also supported by NEXTCHEM’s broad technology offering,” CEO Alessandro Bernini said.
Maire subsidiary Nextchem provides technology services for companies tackling the energy transition.
Shares of the company dipped briefly after the results were published, but were back to trading marginally below Wednesday’s closing price by 1040 GMT.
($1 = 0.8575 euros)
(Reporting by Laura Contemori in Gdansk; Editing by Milla Nissi-Prussak)
