* Q3 adjusted net profit 170 million euros
* Order book at end-Sept 18.354 billion euros
* Sees higher operating result and revenues in 2009 vs 2008
* Shares down 1.4 percent
(Adds details, share price)
MILAN, Oct 27 (Reuters) - Italian oil services group Saipem raised its guidance for the full year on Tuesday as it reported a lower-than-expected fall in third-quarter profit.
Saipem, which is controlled by oil major Eni, said it now expected operating results and revenues to rise in 2009 from 2008, against a previous guidance of no growth. The oil services sector has been hit hard by the global crisis as oil and gas producers have had to slash investments. With oil back around $80 per barrel, services companies are expecting demand to rise.
"The (oil price) trend reflects expectations for a significant growth in demand following the end of the financial crisis," Saipem said. However, "the rise in oil prices has not yet led to increased spending by the oil companies."
Saipem's adjusted net profit fell around 10 percent to 170 million euros in the third quarter. Its order backlog fell slightly to 18.354 billion euros.
Its shares were down 1.4 percent at 21.18 euros at 1406 GMT, having reached their yearly high last week. The DJ Stoxx oil and gas index was up 1.7 percent.
Earlier on Wednesday, Norwegian oilfield services companies Petroleum Geo-Services and Subsea 7 said while there were tough times ahead, signs of a gradual recovery were appearing in the offshore services sector.
(Reporting by Danilo Masoni; Editing by David Cowell)