RE: .16 Mar 2021 08:44
"This new agreement with the banks is on vastly improved terms to what was agreed in June last year. As a result, it creates a positive platform on which the future development and growth of the business can be based; allowing the Company to benefit from the pick-up across its core markets."
"As the numbers demonstrate, GMS is in a strong position. Underlying operations continue to see good progress, with a far better secured utilisation position than this time last year, combined with improved margins and efficiencies. The pipeline of work opportunities continues to strengthen, particularly in the MENA Region, where contract awards, delayed as a result of COVID, are expected to be awarded in 2021, in addition to further demand created as NOC clients look to increase production capabilities."