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Share Price: 18.40

Bid: 18.40

Ask: 18.60

Change: -0.10 (-0.54%)

Spread: 0.20 (1.087%)

Open: 18.25

High: 18.65

Low: 18.25

Prev. Close: 18.50

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Gulf Marine Services raises 2023 earnings guidance to 20% increase

Wed, 17th Jan 2024 11:50

(Alliance News) - Gulf Marine Services PLC on Wednesday updated its guidance for 2023, saying it now expects to report higher earnings than originally expected.

The London-based provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewable energy sectors said adjusted earnings before interest, tax, depreciation and amortisation for 2023 will be about USD86 million, having previously guided between USD83 million and USD86 million.

This would be a 20% increase from the USD71.5 million recorded in 2022.

The company reconfirmed its adjusted Ebitda guidance for 2024 at USD87 million to USD95 million, as much as a 10% increase from 2023.

Shares in Gulf Marine Services were up 5.0% to 14.85 pence each in London on Wednesday morning.

By Sabrina Penty, Alliance News reporter

Comments and questions to newsroom@alliancenews.com

More News

28 May 2014 09:55

Gulf Marine Services Wins Small Class Vessel Contract

LONDON (Alliance News) - Gulf Marine Services PLC Wednesday said one of its small class vessels has been awarded a contract for maintenance work for an unnamed international oil company in the Middle East and North Africa. The K-Class self-propelled self-elevating support vessel will begin

28 May 2014 07:24

Gulf Marine Services wins vessel contract in MENA region

Support vessels provider Gulf Marine Services (GMS) has signed a contract for one of its small class vessels to support maintenance work for an oil company in the Middle East and North Africa (MENA) region. The 'K-Class' self-propelled self-elevating support vessel (SESV) will begin production in t

27 May 2014 09:17

Tuesday broker round-up UPDATE

African Minerals: Canaccord Genuity cuts target price from 295p to 230p and maintains a buy recommendation. AG Barr: Investec ups target price from 620p to 645p retaining an add rating. ARM Holdings: Numis increases target price from 880p to 920p keeping a hold recommendation. AVEVA Group: Invest

8 May 2014 13:34

Gulf Marine Services Trading In Line Despite Contract Problem

LONDON (Alliance News) - Gulf Marine Services PLC Thursday said it is trading is in line with expectations and continues to see high demand for its services. In an interim management service for the period January 1 to May 7, the company - which operates independent self-propelled Self Elev

7 Apr 2014 10:19

Monday broker round-up UPDATE

Abcam: Canaccord Genuity lowers target price from 386p to 375p, while upgrading from sell to hold. Aberbdeen Asset Management: Credit Suisse ups target price from 415p to 440p and stays with its neutral rating. AO World: Jefferies initiates with a target price of 410p and a buy recommendation. JP

14 Mar 2014 11:00

Gulf Marine Services Dips In Early Conditional Dealing

LONDON (Alliance News) - Gulf Marine Services PLC shares dropped slightly on the first morning of conditional dealing on the London Stock Exchange main market after it had priced its initial public offering at 135 pence per share, giving it an initial market capitalisation of GBP472 million. <

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Gulf Marine Services raises 2023 earnings guidance to 20% increase

Gulf Marine Services Wins Small Class Vessel Contract

Gulf Marine Services wins vessel contract in MENA region

Tuesday broker round-up UPDATE

Gulf Marine Services Trading In Line Despite Contract Problem

Monday broker round-up UPDATE

Gulf Marine Services Dips In Early Conditional Dealing

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