Lamprell revises 2014 earnings forecast | Lamprell revises 2014 earnings forecast -

Lamprell revises 2014 earnings forecast

: Tuesday, July 01 - 2014 @ 03:00

UAE-based oil rig maker, Lamprell has revised its full-year earnings forecast after delivering four major projects in the first half of 2014 ahead of budget, Reuters has reported. The group, which raised about $120m in May to boost its productivity after returning to profit last year, said it had enjoyed a strong operational and financial performance since the start of 2014 with the delivery of four major projects in the first six months. “The company now expects earnings for the year as a whole to be ahead of expectations although this will be heavily weighted towards the first half of the year,” it said. Lamprell had said in March it expected revenue to fall slightly over the next two years as it focused on winning new orders after a disastrous 2012 riddled by profit warnings and senior staff changes.

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Tuesday, July 1- 2014 @ 3:00 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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