Q3 2021 Petrofac Ltd Trading Statement Call Transcript
Good morning, everyone, and thank you for joining our regular pre-close trading update. I'm going to make some brief comments on our statements, and then we'll open up the line for questions.
At our full year results, we talked about plan to rebalance, reshape and rebuild Petrofac. We have made real progress in 2021 with the closure of the SFO investigation, which is now behind us, and a refreshed strategy in place that will drive future growth.
We also had the recent refinancing, which provided us with a long-term capital structure for the business and largely complete the work to rebalance the group. Operationally, we are making good progress in reshaping the organization, delivered consistently to best-in-class global standards through local execution. Our priority now is to rebuild the backlog.
I'm pleased to say that we are experiencing good traction with clients since the SFO investigation was concluded, which gives us confidence in our growth ambition. We secured $1.5
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