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Pin to quick picksGulf Marine Services Share News (GMS)

Share Price Information for Gulf Marine Services (GMS)

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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.

More News
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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10 Feb 2023 14:35

Director dealings: Gulf Marine Services director makes share purchase

(Sharecast News) - Gulf Marine Services revealed on Friday that non-executive director Charbel El Khoury had acquired 500,000 ordinary shares in the London-listed boat operator.

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23 Jan 2023 11:08

IN BRIEF: Gulf Marine Services to develop French offshore wind farm

Gulf Marine Services PLC - provides self‐propelled, self‐elevating support vessels for offshore oil, gas and renewables industries - Signs contract to provide support for the construction and development of a major offshore wind farm in France. Contract is due to complete in the first quarter of 2023. Executive Chair Mansour Al Alami says: "We are pleased to be awarded this contract, which is a further reflection of the strong demand for our vessels. This contract also reflects our long-term commitment to the renewable energy sector, as earlier announcements confirmed our commitment towards the oil and gas sector."

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13 Jan 2023 10:03

Gulf Marine Services shares down as client hit with bankruptcy

(Alliance News) - Gulf Marine Services PLC shares were down on Friday, after it said it might need to adjust its 2022 guidance as its client World Marine Offshore AS has filed for bankruptcy.

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10 Jan 2023 11:26

Gulf Marine Services performs in line with full-year expectations

(Alliance News) - Gulf Marine Services PLC on Tuesday said it expects earnings for 2022 to be in line with expectations.

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3 Jan 2023 17:17

TRADING UPDATES: MGC cuts costs; Ince gets Arden sale green light

(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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9 Dec 2022 13:30

IN BRIEF: Gulf Marine says annual earnings to be within guidance range

Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Expects earnings before interest, tax, depreciation and amortisation for 2022 to be between USD70 million to USD72 million, which is within the previous given guidance range. Says vessel utilisation is projected to be 87%, up from 85% in 2021. Gulf Marine says "the increase in utilization is despite some unfavourable weather conditions and options on contracts not having been exercised".

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15 Nov 2022 21:23

TRADING UPDATES: Gulf Marine wins deal; Rockpool considers acquisition

(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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3 Nov 2022 18:18

TRADING UPDATES: Gulf Marine wins deal; Kitwave trades in-line

(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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27 Sep 2022 13:11

IN BRIEF: Gulf Marine shares up on new contract win

Gulf Marine Services PLC - United Arab Emirates-based lift boat company - Wins new contract for an E Class vessel with an unnamed client in the Middle East and North Africa region. The contract is due to start in the second quarter of 2023, with a duration of 22 months.

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26 Sep 2022 15:02

EARNINGS SUMMARY: Steppe profits via pricing; Gulf Marine profit soars

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

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13 May 2022 09:31

Gulf Marine Services swings to annual profit as vessel demand surges

(Alliance News) - Gulf Marine Services PLC on Friday said it swung to an annual profit last year, as demand for its vessels surged.

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29 Apr 2022 21:39

TRADING UPDATES: Rotala buys buses; Aukett Swanke sells John R Harris

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

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