Net income boost for Shaw Group

US contractor Shaw Group reported net income of US$ 52.5 million for the second quarter of fiscal 2012, which ended 29 February, a sharp increase over the US$ 1.2 million net income reported for the second quarter of 2011.

Revenues also received a boost, reaching US$ 1.5 billion, compared to US$ 1.4 billion in 2011.

Revenues from the US, Middle East, South America and Mexico showed marked growth. The US division reported second quarter revenue of US$ 1.27 billion, against revenues of US$ 1.18 billion for the same period in 2011.

The Middle East saw revenues rise from US$ 33 million in 2011 to US$ 39.2 million in 2012, while South America and Mexico reported revenues of US$ 22.6 million, up from US$ 12 million the year before.

Shaw's Asia Pacific division saw second quarter revenues down at US$ 114.8 million, compared to US$ 164.2 million the year before. Further decreases were reported in Europe, which reported revenues of US$ 17.4 million, down from US$ 29.5 million in 2011.

Looking ahead, the contractor forecast revenues of approximately US$ 6 billion for the full fiscal year.