FMC sees profits rise

Cashing in: a 29% rise in revenue helped lift FMC's profits during the first quarter of 2012

Houston-based FMC Technologies saw profits rise nearly 16% during the first quarter of the year on the back of increased revenues.

FMC posted a net profit of $98.8 million for the first three months of the year, up from $85.2 million during the first quarter of 2011.

The jump in profits came as revenues surged 29% to almost $1.4 billion during the first quarter of the year, compared to nearly $1.1 billion during the same period last year.

The majority of revenue came from the company’s subsea technologies business which posted a 30% rise in revenue year-on-year, from $689.5 million to $894.9 million.

FMC’s other two business segments also posted positive growth with the surface…

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