Technip sees profits rise

On the rise: Technip posted a jump in profits during the third quarter of the year

French engineering giant Technip has revised its full year outlook as profits climbed in the third quarter of the year and its order backlog hit a record high.

The company posted a net profit of 146.3 million euros ($190 million) for the three months to 30 September, up 20.9% on the 121 million euro profit booked during the same period a year ago.

The rise in profits reflected a 23.5% jump in revenue, with Technip generating nearly 2.1 billion euros during the third quarter of the year.

Driving the rise in revenue was the company’s subsea segment which generated nearly 1.1 billion euros, up 42.5% on the 754.4 million euros it brought in during the third quarter of 2011.

Technip’s onshore/offshore segment…

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