29th Jun 2020 20:16
Gulf Marine Services PLC - Abu Dhabi-based self-elevating support vessels- Says year-to-date performance ahead of business plan with May results recorded. Fleet utilisation at 82% for the year as a whole, 85% for the second half. Order book has multi-year visibility, with 53% of fleet contracted for 2021 and 37% for 2022. Confirms 2020 guidance of USD57 million to USD62 million in earnings before interest, tax, depreciation and amortisation. Says recent agreement with lenders positions it for intended equity raise.
Current stock price: 12.79 pence
Year-to-date change: up 74%
By Tom Waite; [email protected]
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