commercia3 Apr 2014 15:27
Nothing wrong with that as long as new managment can generate new orders on a profitable basis. Problem is demand is low in the offshore rig market and Lamprell have a high cost base. I suspect this lot will fudge the issue and take rigs on at marginal profit levels which means one technical problem or slowdown and they will be announcing contract losses. At one time in the 80 price range I saw tthis moving quickly back to 400 plus. Not any more. I now think it will struggle to get to the 180s even with new rig contracts in the 100s of millions announced. Hope Im wrong and it does better because I have this share in my SIPP