$FUR (+1.71%) Fugro, the soil scientist, posted fourth-quarter operating results that were much better than anticipated, with an 18% year-over-year increase. The company paid out more dividends than expected.
With an adjusted operating profit of €119.3 million, the group that also monitors dikes and advises companies on oil extraction and wind farm construction is well above the estimate of €94.8 million.
On Friday morning, Fugro also reported revenue of nearly €588 million, up some 5% from last year. That puts it just below analysts' estimates.
The surprise may be in the proposed dividend: €0.75 per share. Analysts came no further ahead than a dividend payment of €0.63, which is 7 cents less than in 2023, when ce Mark Heine was able to report a dividend payment for the first time in years.
(source Telegraph)