US contractor Fluor managed to significantly reduce its net loss last year despite a drop in revenues as the coronavirus pandemic hit global activity.


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The Irving, Texas-based player posted a net loss for 2020 of $225.6 million, well up on the loss of $1.56 billion recorded the year before.

Revenues rose last year to $15.67 billion, down on 2019's $17.32 billion.

Impairment, restructuring and other exit costs last year were $305.6 million, less than the $532.6 million booked in 2019.

"While 2020 was a challenging year, I am encouraged by the resilience of our organisation," said chief executive David Constable.

Full-year new contract awards were $9 billion last year, down from $12.56 billion in 2019.

Fluor ended 2020 with a consolidated backlog of $25.6 billion.