Marine Link
Friday, October 20, 2017

Lamprell's Revenue Falls 65 pct, Cuts FY Forecast

September 22, 2017

File Image (CREDIT: AdobeStock / (c) Nightman)

File Image (CREDIT: AdobeStock / (c) Nightman)

Oil rig builder Lamprell Plc reported a 64.7 percent fall in revenue in the first half of the year and cut its full-year forecast, hurt by lower activity levels across the industry.
 
The company said it expected revenue for 2017 to be in the range of $370 million to $390 million, as it saw continuing low levels of walk-in work. Lamprell had forecast full-year revenue to be in the lower half of the $400 million-$500 million range in March.
 

Lamprell, which runs three rig building yards in the UAE, said revenue fell to $159.2 million in the six months ended June 30 from $451.3 million a year ago.

 

Reporting by Arathy S Nair 

Maritime Reporter Magazine Cover Oct 2017 - The Marine Design Annual

Maritime Reporter and Engineering News’ first edition was published in New York City in 1883 and became our flagship publication in 1939. It is the world’s largest audited circulation magazine serving the global maritime industry, delivering more insightful editorial and news to more industry decision makers than any other source.

Subscribe
Maritime Reporter E-News subscription

Maritime Reporter E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

Subscribe for Maritime Reporter E-News