Wednesday 17 January 2018

Kentz is the strong, silent type of firm -- and it works

Another great company that flies under the radar is Clonmel-based engineering group Kentz.

While Ryanair and Aer Lingus are rarely out of the news, Kentz is rarely seen or heard because it spreads itself thinly across the planet. It is the strong silent type, and it works.

Shares in the specialist resource engineering and construction services group rose 12pc on Tuesday after the company released earnings and said that its backlog of work has now grown to $2.5bn (€2.9bn). While a 12pc jump is usually cause for celebration, the shares on London's AIM stock market have been suffering something of a lull of late for reasons that are difficult to understand.

Kentz is one of those companies that plays to Irish strengths. We produce a lot of construction types and we are a nation prepared to travel to the furthest corners of the world for a job. Kentz needs those characteristics and has used them to great effect as it bids for new contracts for liquified natural gas projects in Australia, Africa and North America while eyeing all the opportunities Iraq presents to those brave enough to enter what is often a minefield.

For all these reasons and many others, it is difficult to disagree with the usually excellent 'Investors Chronicle' which wrote recently that Kentz has been "a constant over-achiever" and went on to advise readers that the "recent sell-off in its shares since the end of March is not only harsh, but provides us with another buying opportunity".

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