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BUZZ-Lamprell: rig maker doubles profit

Thu, 19th Mar 2015 09:20

** Lamprell jump c.14 pct, poised for biggestone-day gain since Jan 2013 in solid volume after oil rig makersays 2014 pretax profit more than doubled due to a steady streamof delivery projects and cost efficiencies

** Lamprell's performance contrasts with that of many otheroil-related stocks, amid moves sector wide to cut capex and putprojects on hold in face of oil price rout

** Co however reiterates weak outlook. It had warned inJanuary that revenue for this year would be 10 pct belowexpectations, as the oil slump had hurt its ability to securenew business

** Stock touches high of 119.25p ($2), moving ahead of meanTP of $1.97 analysts have on it according to Reuters data ($1 = 0.6753 pounds) (RM: esha.vaish.thomsonreuters.com@reuters.net)


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