(Alliance News) - Gulf Marine Services PLC on Wednesday updated its guidance for 2023, saying it now expects to report higher earnings than originally expected.
The London-based provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewable energy sectors said adjusted earnings before interest, tax, depreciation and amortisation for 2023 will be about USD86 million, having previously guided between USD83 million and USD86 million.
This would be a 20% increase from the USD71.5 million recorded in 2022.
The company reconfirmed its adjusted Ebitda guidance for 2024 at USD87 million to USD95 million, as much as a 10% increase from 2023.
Shares in Gulf Marine Services were up 5.0% to 14.85 pence each in London on Wednesday morning.
By Sabrina Penty, Alliance News reporter
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Gulf Marine Services (GMS)