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Nature Group shares down on disappointing first half

Wed, 28th Sep 2016 11:23

(ShareCast News) - Port reception facilities and waste treatment solutions provider Nature Group announced its interim results for the six months to 30 June on Wednesday, with revenues of £6.2m, down from £8.3m in the first half of last year.The AIM-traded firm underlying pre-tax loss for the period of £0.42m, swinging from a modest profit of £0.06m at the 2015 interim.Underlying losses per share were 0.53p for the period, compared with earnings of 0.03p a year ago, and the company reported a cash balance at period-end of £0.33m, compared to £2.44m."The group's results over the first six months of the year have been disappointing," said chairman Berend van Straten."In this period of continued weakness and uncertainty in the oil market, it is clear that we have not been able to realise our ambition to deploy more units."We can, however see increased interest in our offshore service offering from operators and continue to believe that demand for our services will improve."Van Straten said the company will remain active to get its costs to a "structurally acceptable" level without compromising on key expertise."We are confident of concluding the sale of our entity in Gibraltar in the near future."If concluded successfully, we will be able to complete the restructuring of the group and will have a stronger balance sheet allowing us to focus on growing our maritime activities in Houston and Rotterdam and broaden our service offering in our Oil and Gas division."At 0922 BST, shares in Nature Group were down 8.53% to 4.34p.
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18 Feb 2013 10:25

Nature Group wins contract for work on Norway oil fields

Maritime and offshore waste specialist Nature Group announced Monday its Norwegian arm has won a contract with IKM Gruppen AS for operations in Norway. Subsidiary, Nature Oil and Gas, will supply its compact treatment unit (CTU) and associated waste treatment chemicals to support IKM's works at maj

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10 Dec 2012 09:02

Nature Group drops on full-year guidance

Shares in AIM-listed maritime waste treatment provider Nature Group tumbled on Monday morning after the firm revealed that it would miss full-year forecasts. The company stated that the results for the year would be materially below market expectations as a result of the delay in completion of a nu

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10 Dec 2012 07:10

Monday broker round-up UPDATE

Andor Technology: Investec moves target price from 450p to 460p, while reiterating its buy recommendation. Antofagasta: Alphavalue downgrades to reduce, while keeping the target price at 1371p. Ashtead Group: Investec target price from 250p to 475p and reiterates its buy recommendation. Atkins: J

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24 Sep 2012 14:38

Nature Group defers interim dividend payment

Shares of maritime waste treatment company Nature Group fell after it posted a decline in half year earnings and said it would defer its interim dividend payment. Pre-tax profit fell to £1.01m for the six months to June 30th 2012 from £2.03m for the same period in 2011. Group revenues slipped to £8

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6 Jun 2012 07:45

Nature hit by unresolved Gibraltar claim

Maritime waste treatment company Nature Group said it experienced a year of contrasting experiences as it made progress integrating its two companies while results were hurt by an unresolved insurance claim relating to an accident in Gibraltar Pre-tax profit rose to £1.52m for the year to 31st Dece

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30 Jan 2012 08:53

Nature warns after insurance claim is rejected

Maritime waste treatment firm Nature Group saw shares fall after saying profits would suffer due to its insurance company refusing to pay out on a claim. The firm had claimed £2.45m for damage to property and loss of business following an explosion last May at its waste treatment facility in Gibral

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31 Aug 2011 09:05

Nature Group wins offshore contract

Wastewater treatment business Nature Group has been awarded a large contract for the offshore treatment of waste oil slops generated on board a Floating Production, Storage and Offloading vessel (FPSO). The group, which will be employed by one of the oil majors off the coast of Brazil, saw its shar

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13 Dec 2010 14:34

Nature buys Rotterdam-based water treatment business

Wastewater treatment business Nature Group is buying International Slop Disposal and its vented gas scrubbing associate Ecoscrub for £16m in cash and shares. Nature is raising £11m through a placing at 50p a share. This will leave £3m over to pay the costs of the deal and provide working capital.

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20 Jul 2010 16:36

Barton adds to C&W Worldwide stake

Cable & Wireless Worldwide's deputy chairman has taken advantage of the share price slump following the telecoms services provider's profit warning. John Barton and his wife Anne have each bought 25,000 shares at 69.2p each. The total investment was £34,600. He bought 50,000 shares in March at 9

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