Kentz Corporation Limited (LON:KENZ) delivers an upbeat first-quarter update.
The shares of Kentz (LSE: KENZ) rallied 4% to 413p during early London trade this morning after the resource-focused engineer revealed first-quarter order intakes of $700m.
Kentz, which generates more than half of its revenue from Africa and the Middle East, announced its prospect pipeline had grown 4% to $13.7bn.
The company confirmed it had secured 80% of its targeted revenues for 2013 and reported a 9% expansion in its order backlog to $2.8bn.
Looking ahead, Kentz maintained expectations of "double-digit earnings growth" for 2013, and said it was experiencing "increased bidding activity" with new and existing clients.
Christian Brown, chief executive at Kentz, said:
"The Group performed very strongly in the first four months of the year. We anticipate that 2013 will be another successful year for Kentz in which we expect further growth and geographical diversity in our earnings and backlog."
"The award of several new contracts already in 2013 and since the announcement of our full year results, gives us confidence that the Group will maintain this momentum and continue to grow our order book. With the implementation of our strategic initiatives, we believe that Kentz will continue to deliver strong growth for its shareholders through 2013 and beyond."
With a market cap of £480m, Kentz shares trade at 9 times expected earnings, and offer a prospective dividend yield of 2.5%.
Of course, whether that valuation, today's results and the future prospects for the resources industry all combine to make shares of Kentz a 'buy' remains your decision.
But if you already own shares in Kentz and are looking for alternative investment opportunities, this exclusive wealth report reviews five particularly attractive possibilities.
Indeed, all five opportunities offer a mix of robust prospects, illustrious histories and dependable dividends, and have just been declared by the Fool as "5 Shares You Can Retire On"!
Just click here for the report -- it's free.
> Mark does not own any share mentioned in this article.