Subsea 7 sees busy 2011 as merged results impress

Oilfield engineering group Subsea 7 said high oil prices and growing industry activity would give it a boost in 2011 and posted better-than-forecast fourth-quarter earnings as a new merged entity.
The combined core profit of pre-merger Subsea 7 and its new partner Acergy was $260 million - some 10 percent above analyst expectations given in a Reuters poll.
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Source: Forexyard