9th Feb 2017 08:13
LONDON (Alliance News) - Industrial services and rental company Northbridge Industrial Services PLC on Thursday said its results for 2016 will be broadly in line with its expectations.
Northbridge said trading in 2016 was hit by a downturn in oil and gas industry exploration activity amid the low oil price environment.
A recovery in the oil price in early 2017 will likely lead to an upturn in exploration and production investment by oil and gas companies, Northbridge said, but it remains too early to predict the timing and impact of any recovery in is markets.
Shares in Northbridge were down 7.1% to 125.00 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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