- Today's Hot Chat Topics
- Member Benefits
- Manage your personalised Watchlist.
- Set up an online Virtual Portfolio.
- Participate in Share Chat.
- See more trades and director dealings.
- Play the Fantasy Share Trading Game.
Share:
HomeShare PricesStock PickerFinancial DiaryUK IndicesUK Industry SectorsCompany LookupShare RisersShare FallersBroker RatingsFinance GlossarySMS ServicesShare ChatFinance NewsBlogsLive PricesShares BookshopFinance ToolsMembers
Latest Share Chat
Lamprell ShareCast News (LAM)
ShareCast News for Lamprell (LAM)
| Share Price: 143.00 | Bid: 142.25 | Ask: 142.75 | Change: -1.00 (-0.69%) |  | ||||||
| ||||||||||
Positive trends continue at Lamprell
Tue, 7th Jun 2011 07:49
Oil rig services group Lamprell said that the positive trends seen last year have continued into 2011 and its year-to-date performance has been in line with management expectations.
The firm noted that its strong performance in 2010 was driven by elevated oil prices and a turnaround in the new build jackup market which was triggered by the "post-Macondo effect".
"We continue to see evidence of improvements in our operating markets and our bid activity remains at a historically high level. We are experiencing renewed activity in the rig refurbishment and upgrade market, representing a strong improvement from the lower levels of expenditure experienced in the second half of 2010," said chairman Jonathan Silver.
Lamprell's order book (which extends to 2013) was around $933m at the end of April, primarily attributable to the $807m of orders from Engineering, Procurement and Construction projects.
Furthermore, the group believes that its recent $336.1m (£208.1m) offer for United Arab Emirates-based firm Maritime Industrial Services represents a significant step for the group and will "rapidly create value for [its] shareholders".
---
BC
The firm noted that its strong performance in 2010 was driven by elevated oil prices and a turnaround in the new build jackup market which was triggered by the "post-Macondo effect".
"We continue to see evidence of improvements in our operating markets and our bid activity remains at a historically high level. We are experiencing renewed activity in the rig refurbishment and upgrade market, representing a strong improvement from the lower levels of expenditure experienced in the second half of 2010," said chairman Jonathan Silver.
Lamprell's order book (which extends to 2013) was around $933m at the end of April, primarily attributable to the $807m of orders from Engineering, Procurement and Construction projects.
Furthermore, the group believes that its recent $336.1m (£208.1m) offer for United Arab Emirates-based firm Maritime Industrial Services represents a significant step for the group and will "rapidly create value for [its] shareholders".
---
BC
Lamprell signs new banking facility
Lamprell, provider of engineering and contracting services to the oil and gas industries, has signed a 181m dollar new secured banking facility with a reduced number of five banks.[Mon 07:24]
Monday broker round-up UPDATE
Alent: Credit Suisse initiates with a target price of 430p and an outperform rating.[20 May '13]
Lamprell to wrap up talks with lenders
Lamprell, which provides engineering and contracting services to oil and gas industries, is on track to complete discussions with lenders to restructure its debt facilities.[17 May '13]
Tuesday broker round-up UPDATE
Abbey Protection: Numis downgrades to hold with its target price at 120p.[26 Mar '13]
Underperforming contracts underpin revenue decline at Lamprell
Revenue contracted by nine per cent in the year ended December 31st at diversified engineering and contracting services provider Lamprell, financial results have shown.[21 Mar '13]
Nelson appointed Chief Financial Officer at Lamprell
Frank Nelson has been appointed Chief Financial Officer with immediate effect at diversified engineering and contracting services provider Lamprell.[21 Mar '13]
Lamprell fined for breaching FSA listing rules
Lamprell has reached a settlement with the Financial Services Authority (FSA) for failing to inform the market of its deteriorating financial position last year.[18 Mar '13]
Lamprell completes and delivers new wind turbine vessel
Lamprell has completed the construction of a wind turbine installation vessel known as Windcarrier 2 Bold Tern, an update from the company has shown.[18 Feb '13]
