While adjusted net income was down 10% to $581 million, $461 million worth of charges meant a steep drop in reported net earnings from 2013's $650 million bottom line.
Revenues slipped to $6.2 billion in 2014 from $6.3 billion in the prior year.
Exceptional charges included a $200 million loss booked on the Laggan-Tormore project in the UK.
Petrofac said the charge was related to a final commercial settlement related to the latest schedule and completion cost of the Total-operated project.
The
