Australian energy service firm WorleyParsons reported a 238% rise in profits for the year ended June 30, 2018.
Full-year pre-tax profits totalled £116 million (A$205.4) compared to £35m in the previous 12 months.
Revenues dipped 7.4% to £2.7 billion, however.
WorleyParsons bought Amec Foster Wheeler’s oil and gas business following the latter’s acquisition by energy service giant Wood last year.
The deal marked WorleyParsons’ entry to the UK North Sea market.
The firm said its hydrocarbons business managed to increase revenues by 15.5% during the reporting period.
WorleyParsons said the improvement was largely thanks to the contribution from its UK Integrated Solutions (UK IS) division. However, the company still described UK IS as “low margin”.
Chief executive Andrew Wood said: “In FY 2018 we made a step change to the company’s capabilities and market position in the maintenance, modifications and operations (MMO) sector with the acquisition of the UK IS business in Aberdeen.
“The integration of this business into the wider WorleyParsons group was completed ahead of schedule and financial forecast.
“In addition to supporting revenue growth, UK IS is providing differentiation to other parts of the business.
“The company completed a successful A$322m capital raising to fund the acquisition of this business.”
WorleyParsons has a £3.6bn contract backlog.