$LAM.L – Lamprell – market likes results

Oil-rig maker LAM (Lamprell) saw its share price rise 5.7% to close at 142.75p after releasing its half-year results. 

Revenue was down slightly: US$521m compared with US$528m. Net profit after exceptional items came it at US$7.3m, compared with a loss of US$51.1m for 2012H1.
As at 30 June 2013, LAM had a backlog of US$ 1.1 billion (31 December 2012: US$ 1.2 billion), with bid pipeline approximately US$ 4.6 billion (31 December 2012: US$ 4.1 billion).
Performance for the full year is anticipated to be ahead of their expectations, and they note a high demaind for their core services. They expect revenues in 2014 to be slightly down compared to 2013, with measured growth returning in 2015

About mcturra2000

Computer programmer living in Scotland.
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