Bouygues Shares Drop; Analysts Not Concerned

Wednesday, September 13, 2000
Shares in Bouygues Offshore fell more than three percent in early Wednesday trade after the French oil services firm posted a 42 percent fall in first half net profit to 18.6 million euros from 32.3 million. But analysts, not concerned by the slump in profits that was in line or better than expectations, said they remained positive on the stock amid signs that BOS' orders were picking up. They attributed the share price slide to a knee-jerk reaction from the market at seeing profits slump but said it was not serious given the stock had risen 91 percent since a year low of 35.10 euros hit on January 5. "The figures are not catastrophic," said analyst Joergen Lunshof at Credit Lyonnais Securities Europe (CLSE), pointing out BOS's first-half results reflected the dearth of investments by oil companies during the low crude prices of 1998-1999. Lunshof, who has a "buy" recommendation on BOS and a 75 euros price target, predicted the firm's profits would improve in the second half and return to 1999 levels in 2001 as oil investments picked up again.
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

Drydocks World World’s Largest Turret

Drydocks World marked a milestone in completing the world’s largest turret mooring system. At almost 100 meters high, weighing over 11,000 tons and with a diameter of 26 meters,

Shell Charters Regalia in 2016

Prosafe announced it has signed a contract worth approximately $24 million with Shell U.K. Limited for the provision of the Regalia semi-submersible accommodation

DNV GL Wins Frame Agreement with CLP Hong Kong

DNV GL, the technical advisor to the oil and gas industry, has been awarded a framework agreement by CLP Hong Kong to deliver risk management advisory services for its Asia Pacific operations.

 
 
Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Port Authority Salvage Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.2152 sec (5 req/sec)