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Pin to quick picksGulf Marine Services Share News (GMS)

Share Price Information for Gulf Marine Services (GMS)

London Stock Exchange
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Share Price: 20.50
Bid: 20.20
Ask: 20.90
Change: 0.10 (0.49%)
Spread: 0.70 (3.465%)
Open: 20.30
High: 20.50
Low: 20.30
Prev. Close: 20.40
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TRADING UPDATES: H&T plans raise; Joules turnaround continues

Thu, 29th Sep 2022 22:08

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Thursday and not separately reported by Alliance News:

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Dolphin Capital Investors Ltd - British Virgin Islands-based investor in high-end resort developments in the eastern Mediterranean - Sells entire interest in the One&Only at Kea Island project, netting EUR17.9 million. Owns 67% of Single Purpose Vehicle Ten Ltd which, in turn, indirectly owns 50% of One&Only, giving it effective equity interest of 33%.

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H&T Group PLC - Surrey, England-based pawnbroker - Plans to raise GBP16.9 million from issue to institutional investors at 425 pence each. Says proceeds of issue will go towards growing its pledge book, given strong demand, and to fund the expansion of the store estate through the opening of up to a further 20 new stores in 2023. Notes pledge book ended August at GBP89.6 million, rising from GBP50.2 million at June 30.

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Joules Group PLC - Leicestershire, England-based country lifestyle retailer - Notes it is making "good progress" in developing its turnaround plan, which is focuses on "driving higher profitability". "The company continues to make good progress on its simplification agenda and cost management process. Interpath Advisory is assisting the board with an initial assessment of certain elements as part of the development of this turnaround plan," it adds. Continues to assess its ongoing financing requirements, including a possible equity raise.

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Allergy Therapeutics PLC - Sussex-based biotechnology firm focused on allergy vaccines - In financial year ended June 30, sinks to pretax loss of GBP12.7 million versus GBP3.7 million profit the year prior. Revenue drops to GBP72.8 million from GBP84.3 million. Research & development costs grows to GBP15.7 million from GBP12.9 million. Notes a "strategic streamlining" of older products to focus on high value growth products. Chief Executive Manuel Llobet adds: "While market conditions remain challenging for many companies, our leading core European commercial business has been resilient."

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Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Signs improved contract, with a total duration of 72 months, for both an E-Class and K-Class vessel with an unnamed national oil company in MENA. The contract will come into effect in October 2022. Second contract win of the week, following new contract for an E Class vessel with an unnamed client in the Middle East and North Africa region.

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Thungela Resources Ltd - South Africa-based thermal coal exporter - Responds to an article from Bloomberg titled 'Top Coal Miners Consider Bids for South African Renewables Firm' which suggest Thungela is considering a bid for Actis LLP's BTE Renewables. Calls the article "factually incorrect". Confirms that it is not considering the acquisition of "any" renewables business". "We are not focused on diversification into the renewable energy sector," it says. Says current plans are limited to the installation of a 137-kilowatt solar plant at the eMalaheni water reclamation plant in South Africa and studies for a 4-megawatt solar photovoltaic plant at its Zibulo colliery.

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By Paul McGowan; paulmcgowan@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

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13 May 2024 18:55

EARNINGS AND TRADING: itim loss narrows; Vela trims EnSilica stake

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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4 Apr 2024 11:50

Gulf Marine shares rise as posts annual growth and sets out guidance

(Alliance News) - Gulf Marine Services PLC on Thursday reported double-digit earnings growth in 2023, and it set out its lofty 2024 guidance.

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4 Apr 2024 09:43

Gulf Marine Services annual profits grow, FY24 outlook strong

(Sharecast News) - Energy industry services business Gulf Marine Services said on Thursday that both revenue and profits had grown in 2023.

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11 Mar 2024 11:57

Gulf Marine Services inks contract for vessel in Middle East

(Alliance News) - Gulf Marine Services PLC said it has signed the first of a two phase, four-year, contract for one of its vessels operating in the Middle East.

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28 Feb 2024 12:04

Gulf Marine Services wins contract and award for Middle East vessels

(Alliance News) - Gulf Marine Services PLC on Wednesday said it extended a contract for one of its vessels which is currently operating in the Middle East, alongside receiving a letter of award for a separate vessel in the region.

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17 Jan 2024 11:50

Gulf Marine Services raises 2023 earnings guidance to 20% increase

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

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8 Jan 2024 11:06

IN BRIEF: Gulf Marine Services inks contracts for small class vessels

Gulf Marine Services PLC - Provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewables sectors - Announces contract extension for one small class vessel and a new contract for another small class vessel. Says that both the extension and the new contract are for vessels in the Gulf Cooperation Council. The contract extension, surpassing the initially issued duration, is for a period of an additional 176 days. The new contract is for a total duration of 210 days.

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6 Nov 2023 11:19

IN BRIEF: Gulf Marine Services ups full year outlook

Gulf Marine Services PLC - London-based provider of self-propelled and self-elevating support vessels, to customers in the oil, gas, and renewables sectors - Lifts annual outlook. Now expects earnings before interest, tax, depreciation and amortisation in the range of USD83 million to USD86 million for 2023, lifted from its previous USD77 million to USD85 million outlook. "Given significant improvement in backlog visibility and market outlook evidenced in the recently announced contract awards, alongside future opportunities we're bidding for, we are confident to increase our market guidance for 2023 and to provide an even higher initial guidance for 2024," it says. For 2024, it predicts an Ebitda in the range of USD87 million to USD95 million.

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1 Nov 2023 10:04

Gulf Marine Services shares jump on three contract awards

(Alliance News) - Gulf Marine Services PLC shares rose on Wednesday, after it announced two contract extensions and one new deal.

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31 Aug 2023 17:40

EARNINGS SUMMARY: Gulf Keystone swings to loss; Gulf Marine optimistic

(Alliance News) - The following is a round-up of earnings of London-listed companies, issued on Thursday and not separately reported by Alliance News:

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18 Jul 2023 16:55

TRADING UPDATES: Andrada raises GBP7.7 million; Ixico signs contract

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

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12 Jun 2023 10:38

Gulf Marine extends two contracts in Gulf Cooperation Council region

(Alliance News) - Gulf Marine Services PLC on Monday said it won two contract extensions in the Gulf Cooperation Council region, which it said reflected "highly favourable" market and the quality of its fleets.

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7 Jun 2023 14:33

IN BRIEF: Gulf Marine Services says 45% vote against chair as director

Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Notes that 45% of shares cast at AGM vote against the re-appointment of Chair Mansour Al Alami as director of company. Further, 49% shares cast vote against authorising the allotment of shares and over 50% of shares cast vote against disapplying pre-emption rights in connection with a rights issue. The special resolution regarding the disapplication of pre-emption rights is the only one resolution that does not pass. It needed 75% approval.

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24 Apr 2023 12:20

Gulf Marine revenue rises; expects improved performance in 2023

(Alliance News) - Gulf Marine Services PLC on Monday said revenue was up in 2022, boosted by higher vessel rates, as it expects continued improvement on day rates in 2023.

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29 Mar 2023 11:03

IN BRIEF: Gulf Marine Services receives two contracts for vessel

Gulf Marine Services PLC - provides self‐propelled, self‐elevating support vessels for the offshore oil, gas and renewables industries - Announces award of two new contracts for one of its small class vessels in the Gulf Cooperation Council region. Says the daily rates secured for these contracts reflect strong demand for our vessels. The first contract will begin at the end of the first quarter, while the second contract will begin at the start of the third quarter. Says both contracts will span a cumulative period of 272 days.

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