SeaEnergy slumps as interim loss widens, warns over full year

(ShareCast News) - SeaEnergy's first-half pre-tax loss widened as revenue fell and the company said it won't meet its full-year-expectations.The energy services group made a pre-tax loss of £2.9m for the six months ended 30 June, which was significantly wider than the £105,000 loss in the same period last year, as revenue dropped to £1.83m from £2.46m.SeaDrill said it has been hit by the decline in oil prices and deferrals and reductions in operators' budgets.In addition, the group said it booked a £2m impairment against its investment in Lansdowne Oil & Gas, in which it holds an 18.67% stake, due to the decline in the share price."The company considers that it is no longer confident that it can meet its previous expectations of performance and now anticipates an operating loss for 2015 before a recovery into profitability in 2016," it said.Nevertheless, SeaDrill said its planning for the early part of 2016 is already showing signs of an upturn in expected activity levels and it expects a return to profitability next year.At 0947 BST, shares in the company were down 16% at 6.20p.