25 Oct 2022 14:53
TRADING UPDATES: Gunsynd invests; AQRU launches crypto-backed loans
(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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Don't have an account? Click here to register.Underperforming contracts underpin revenue decline at Lamprell
Thu, 21st Mar 2013 08:22
Revenue contracted by nine per cent in the year ended December 31st at diversified engineering and contracting services provider Lamprell, financial results have shown. Revenue declined to $1,045m from $1,147.9m in the preceding year as the group said it faced an "exceptional year of challenges" including underperforming key contracts.An operating loss of $84.5m was reported compared to an operating profit of $90.2m in the previous year.A loss before income tax and before exceptional items of $105m was reported compared to a profit of $74m a year earlier and a loss after income tax of $110.5m was posted compared to a profit after income tax of $63.3m in 2011.The diluted loss per share was 42.4 cents compared to earnings per share of 26.5 cents one year earlier. However, the group's net cash as of December 31st had improved substantially to $104.1m from a debt of $101.7m one year earlier.Challenges: Underperforming key contractsUnderpinning the results were a number of challenges, including underperforming key contracts, a deteriorating financial position and an investigation by the Financial Services Authority (FSA), the group said.Changes were made at the board level and within the management structure to address the issues and Lamprell said that challenges had been successfully overcome or were being addressed.Since January 1st 2012 to date, the group reported that it had delivered multiple projects including four new build jackup rigs, two prototype wind farm installation vessels and one non-prototype wind farm installation vessel. In addition, it said that it had two new build land rigs and numerous upgrade and refurbishment projects, relating both to jackup and land rigs.Contracts secured since the start of 2012 included four new build jackups, with an option for a further one, a Seajacks "Hydra" windfarm vessel, North Sea process modules, multiple jackup and land rig refurbishment projects.Non-Executive Chairman: 2013 will be "recovery year"John Kennedy, Non-executive Chairman for Lamprell, said: "2012 was unquestionably the most challenging year in Lamprell's history. After years of sustained growth and profitability, the company experienced a number of significant, unexpected operational issues, which resulted in substantial financial losses and a refreshment of the management team." He added: "We were forced to re-evaluate the projects that we wanted to pursue and we have made many significant changes to the business structure with a view to focus on our core capabilities." Overall, he said that outlook was positive with the board expecting 2013 to be a "recovery year", with stable revenues as compared to 2012 and a gradual return to profitability during the year.Lamprell's share price was down 1.06% to 139.75p at 08:32 on Thursday.MF
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3 Oct 2022 21:46
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(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday and not separately reported by Alliance News:
Read more19 Sep 2022 13:56
UK shareholder meetings calendar - next 7 days
| Tuesday 20 September | |
| AdEPT Technology Group PLC | AGM |
| Appreciate Group PLC | AGM |
| Cake Box Holdings PLC | AGM |
| DP Eurasia NV | EGM appointment of independent non-executive director |
| DSW Capital PLC | AGM |
| FIH Group PLC | AGM |
| Global Ports Holding PLC | AGM |
| Gore Street Energy Storage Fund PLC | AGM |
| Ilika PLC | AGM |
| Manolete Partners PLC | AGM |
| Moonpig Group PLC | AGM |
| ProCook Group PLC | AGM |
| Quiz PLC | AGM |
| Shearwater Group PLC | AGM |
| SulNOx Group PLC | AGM |
| Utilico Emerging Markets Trust PLC | AGM |
| Zoo Digital Group PLC | AGM |
| Wednesday 21 September | |
| Games Workshop Group PLC | AGM |
| Hipgnosis Songs Fund Ltd | AGM |
| IG Group Holdings PLC | AGM |
| India Capital Growth Fund Ltd | AGM |
| Merit Group PLC | AGM |
| Schroder Real Estate Investment Trust Ltd | AGM |
| SDI Group PLC | AGM |
| Seraphine Group PLC | AGM |
| Tintra PLC | AGM |
| Thursday 22 September | |
| Begbies Traynor Group PLC | AGM |
| Ecofin Global Utilities & Infrastructure Trust PLC | GM pre-emption rights |
| IG Design Group PLC | AGM |
| Liontrust Asset Management PLC | AGM |
| Oberon Investments Group PLC | AGM |
| Odyssean Investment Trust PLC | AGM |
| Rockwood Strategic PLC | GM trading to the premium segment |
| Trakm8 Holdings PLC | AGM |
| Worsley Investors Ltd | AGM |
| Friday 23 September | |
| Accsys Technologies PLC | AGM |
| Biffa PLC | AGM |
| Bradda Head Lithium Ltd | AGM |
| Fusion Antibodies PLC | AGM |
| In The Style Group PLC | AGM |
| Safestay PLC | AGM |
| Wise PLC | AGM |
| Monday 26 September | |
| Babcock International Group PLC | AGM |
| Eastinco Mining & Exploration PLC | AGM |
| Eckoh PLC | AGM |
| ECO Animal Health Group PLC | AGM |
| Great Eastern Energy Corp Ltd | AGM |
| Lamprell PLC | EGM re delisting |
| Mediclinic International PLC | Court & GM re takeover by Remgro, SAS |
| RPS Group PLC | GM cash offer agreement |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
8 Sep 2022 14:00
Lamprell inks Moray West wind farm deal worth over USD200 million
(Alliance News) - Lamprell PLC on Thursday said it has signed a contract for Moray West Offshore Wind Farm, worth over USD200 million.
Read more30 Aug 2022 15:58
UK shareholder meetings calendar - next 7 days
| Wednesday 31 August | |
| Fulham Shore PLC | AGM |
| GYG PLC | GM cancellation of admission of Ordinary Shares to trading on AIM |
| Invinity Energy Systems PLC | AGM |
| James Latham PLC | AGM |
| Rural Broadband Solutions PLC | AGM |
| Scottish Investment Trust PLC | GM re recombination of assets with JPMorgan Global Growth & Income PLC |
| Thursday 1 September | |
| Carclo PLC | AGM |
| Circassia Group PLC | GM name change |
| Jet2 PLC | AGM |
| JLEN Environmental Assets Group Ltd | AGM |
| Phoenix Global Resources PLC | GM cancellation of listing |
| Picton Property Income Ltd | AGM |
| Watches of Switzerland Group PLC | AGM |
| Friday 2 September | |
| Triple Point Income VCT PLC | AGM |
| Monday 5 September | |
| Highway Capital PLC | AGM |
| Hill & Smith Holdings PLC | AGM |
| Hydrogen Utopia International PLC | AGM |
| LXi REIT PLC | AGM |
| Monks Investment Trust PLC | AGM |
| Totally PLC | AGM |
| Tuesday 6 September | |
| Ashtead Group PLC | AGM |
| Berkeley Group Holdings PLC | AGM |
| Brickability Group PLC | AGM |
| Castelnau Group Ltd | AGM |
| DS Smith PLC | AGM |
| Lamprell plc | AGM |
| Renold PLC | AGM |
| Copyright 2022 Alliance News Limited. All Rights Reserved. | |
26 Aug 2022 17:07
LONDON MARKET CLOSE: Stocks slump as Powell says Fed to act with force
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Read more26 Aug 2022 11:52
Thunderball takes over Lamprell as it increases stake to 50%
(Alliance News) - Thunderball Investments Ltd on Friday said its takeover offer for Lamprell PLC has become unconditional after it said it bought enough shares to get its stake in the company to over 50%.
Read more26 Aug 2022 10:33
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Read more12 Aug 2022 11:59
IN BRIEF: Lamprell shares drop further as trading in London restored
Lamprell PLC - United Arab Emirates-based provider of oil field services - UK Financial Conduct Authority restores trading of its shares on London Stock Exchange.
Read more8 Aug 2022 10:05
Lamprell full-year loss widens on Covid-related headwinds
(Alliance News) - Lamprell PLC on Monday reported a widened full-year loss as the firm grappled with lockdowns, travel restrictions and a loss of productivity in the year.
Read more4 Aug 2022 19:35
IN BRIEF: Lamprell repays USD45 million revolving loan facility
Lamprell PLC - United Arab Emirates-based provider of oil field services - Confirms repayment of USD45 million revolving trade loan facility backed by UAE Export Credit Agency.
Read more22 Jul 2022 07:00
IN BRIEF: Thunderball agrees to make formal Lamprell takeover offer
Lamprell PLC - United Arab Emirates-based provider of oil field services - Potential buyer Thunderball Investments Ltd, a consortium of Blofeld Investment Management Ltd and Al Gihaz Holding Co, says it agrees to make a formal takeover offer for Lamprell. The consortium companies have a combined stake of 45% in Lamprell. The formal takeover offer worth GBP38.8 million confirms the non-binding offer from July 12. It values Lamprell at 9 pence per share and includes a proposed secured bridging loan with a peak total amount of USD145 million. The formal takeover offer will be send to Lamprell shareholders within 28 days from Friday. Lamprell started considering a sale in June due to its liquidity position and funding requirements of USD75 million.
Read more12 Jul 2022 11:15
IN BRIEF: Lamprell intends to recommend takeover offer to shareholders
Lamprell PLC - United Arab Emirates-based provider of oil field services - Notes that it received a combined non-binding indicative all cash offer to buy its entire issued share capital on June 24. The offer is from Blofeld Investment Management and Al Gihaz Holding Co. Both companies have a combined stake of 44% in Lamprell. The offer values Lamprell at 9 pence per share and includes a proposed secured bridging loan with a peak total amount of USD145 million.
Read more4 Jul 2022 15:31
IN BRIEF: Sami Al Angari raises stake in Lamprell amid takeover talks
Lamprell PLC - United Arab Emirates-based provider of oil field services - Shareholder Sami Al Angari raises stake in company to 18% from 6.6% as at Tuesday last week.
Read more1 Jul 2022 10:00
Lamprell shares suspended; shareholder mulls possible takeover offer
(Alliance News) - Lamprell PLC on Friday confirmed that 19% shareholder Sami Al Angari is in the early stages of mulling a takeover offer for the company, alongside a funding package to support the repayment of Lamprell's existing debt facilities.
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