GTT Cuts Outlook on Ship Construction Delays
French supplier of systems for marine transportation of liquified natural gas (LNG) Gaztransport & Technigaz (GTT) reported strong growth in its first half results on Thursday but cut its 2016 revenue outlook, blaming delays in the construction of some ships.
The company, which supplies technologies used to store LNG at very low temperatures during shipping, said it now expected full-year revenue of around 240 million euros ($264.14 million), down from its previous guidance of over 250 million euros.
GTT confirmed the other elements of its guidance, namely a 2016 net margin above 50 pct and a dividend amount, for 2016 and 2017, at least equivalent to that paid for 2015.
Reporting by Alan Charlish