petrofac ltd reported a swing to net loss in the first half of 2023 driven by legacy contracts while it benefited from a major increase in its order book the provider of services to the energy industry said thursday that net loss for the six months ended june 30 was 165 million compared with a net profit of 39 million the same period a year ago the group also reported a swing to loss before interest and taxes of 103 million from a positive ebit of 77 million mainly due to lower levels of activity and onerous contracts with no margin recognition the company added that its order book saw a major increase to 66 billion at june 30 compared with 34 billion as at dec 31 we secured 43 billion of new orders in core markets and in new energies this highquality backlog a growing talented team and a diverse pipeline of future opportunities provides petrofac with a strong base from which to move forward chief executive tareq kawash said shares at 0853 gmt were down 29 pence or 33 at 846 pence