14th Nov 2013 13:16
LONDON (Alliance News) - Lamprell PLC Thursday said that it traded well in the four and a half months ending November 13, and expects a full-year trading performance in line with expectations.
The diversified engineering and contracting services provider said it continues to see high demand for its core services and has a strong pipeline of opportunities.
Lamprell said that it has won a number of important new orders, and it will be delivering major projects in 2014, including a new contract from the Greatship Group for the construction of a Super 116E jackup rig, Lamprell's second order from the India-based oil-services group.
The group said its order book at the end of October was valued at USD1.0 billion, compromising mainly of the ongoing construction of eight new build jackup rigs.
It said its bid pipeline consists of approximately USD4.6 billion, the same as last year's level.
Lamprell said that it has completed several of its key projects, including its first Caspian Sea jackup rig to a client, and the completion of a jackup rig to Jinal Group for use in the offshore India sector.
The group said that it has introduced a number of initiatives in order to improve efficiency and keep a lid on costs.
Lamprell shares were down 2.0% Thursday morning, at 156.00 pence per share.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
Copyright © 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
LAM.L