12 Dec 2017 12:13

HMS Group increases order portfolio 1.7-fold to 42.6 bln rubles in 9M

MOSCOW. Dec 12 (Interfax) - HMS Group has increased its order portfolio 1.7-fold year-on-year to 42.6 billion rubles in January-September 2017, the Russian pump and compressor producer said in a statement.

Orders in the oil and gas equipment division more than doubled year-on-year as major contracts came in during the reporting period, reaching 22.3 billion rubles. Orders in the pumps division rose 11% to 10.5 billion rubles, in the construction division - 4-fold to 4.5 billion rubles and the compressor division - 6% to 5.2 billion.

Incoming orders rose 1.7-fold to 51 billion rubles in 9M due to contracts signed in H1. HMS Group clinched four major contracts in the first nine months of the year: two contracts to supply oil and gas equipment for large gas fields in Russian totaling 10.2 billion rubles and 6.3 billion rubles. The company is planning to start work on the second contract in the near future, saying that the project will be below average profitability.