Amec clinces $974m Azerbaijan contract while Carpetright warns over profits

Engineering firm Amec has secured a contract at a BP-operated gas field in Azerbaijan while Carpetright today issued a profits warning

Carpetright
Carpetright

Engineering firm Amec has clinched a $974m contract for a gas field in Azerbaijan.

Amec, which has a base in Darlington, will lead a consortium building and installing platforms for the BP-operated scheme at the Shah Deniz gas field in the Caspian Sea.

Amec’s chief executive Samir Brikho said: “Winning this contract supports our growth strategy and comes as a result of our successful and safe delivery of projects in this region for BP-operated projects.”

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Carpetright warned over profits for the second time in less than four months after dire trading in its Netherlands business offset a UK sales rebound.

The floorings retailer saw UK like-for-like sales bounce back with a 1.9% rise in its third quarter to January 25, but said “extremely difficult economic conditions” in the Netherlands would leave it nursing losses in its overseas division.

Despite an expected increase in UK earnings over the full year, the Netherlands hit was now set to see overall profits for the year to April miss City forecasts of between £9 million and £11 million. Shares opened 4% lower today

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