Speaking at the company’s annual general meeting in Sydney yesterday, chairman Ron McNeilly told shareholders that 2006 delivered “strong” financial results for the energy sector services provider.

He said WorleyParsons’ full-year 2007 results would be supported, chiefly in the second half, by a number of recent contract awards and acquisition announcements.

“I am pleased that we can confirm the outlook statement we made at the release of the 2006 results: that we expect the markets for WorleyParsons services will continue to be strong.

“Our key markets are experiencing positive conditions and we are well positioned to respond to these opportunities.

“Subject to conditions remaining favourable in these markets, we expect to achieve increased earnings in 2007,” he said.

McNeilly said the globalisation of the company is continuing rapidly, with an increasing proportion of its total revenue and profit generated in international markets.

He said the group would continue to evaluate acquisition opportunities, which strengthen its existing capabilities.

So far this year, WorleyParsons has renewed a contract with ExxonMobil, announced the establishment of a joint venture with Chilean engineering services company ARA and acquired the remaining 50% interest in its Australian power and water joint venture Burns & Roe Worley.

The company said the record number of new contract records achieved this year had “lengthened” its revenue profile, while its contract, negotiation and bidding activity remained at record levels.

WorleyParsons, which provides engineering and other services to the energy and mining sector, reported a 109.3% rise in annual net profit to a record $139.1 million for the 2005-06 financial year.