Reducing costs In this period of unprecedented disruption, we are taking decisive actions to improve our cost competitiveness and protect the long-term health of our business. Petrofac reported a 2% drop in net full year profits after booking an exceptional impairment charge of $79m largely related to Greater Stella near Aberdeen, which it sold last year. The company said the charges were made against its assets and liabilities as part of a restructuring plan that will see it sell off some non-core businesses such as petrochemicals and refining.
Petrofac reported a 2% drop in net full year profits after booking an exceptional impairment charge of $79m largely related to Greater Stella near Aberdeen, which it sold last year. The company said the charges were made against its assets and liabilities as part of a restructuring plan that will see it sell off some non-core businesses such as petrochemicals and refining.