6th Nov 2014 09:06
LONDON (Alliance News) - SeaEnergy PLC shares were trading higher on Thursday morning after the energy services company said it was seeing continued growth across its business, with all segments meeting expectations and the company on track to generate a profit for the full year.
The company said its R2S Visual Asset Management business posted a record revenue in the third quarter, with a strong order book in place for the rest of 2014 and for the first half of 2015.
SeaEnergy said demand for R2S is strong in the UK North Sea, the US and Mexico and said it anticipates the system being adopted by another international major operator next year.
The group did say that the timing of individual projects could result in some orders scheduled for 2014 falling into next year.
The group also saw increased demand for its Consulting arm and said its SeaEnergy Ship Management arm currently has three vessels under management.
"As we head towards the end of the year, we are delighted that the company is on track to achieve a profit before tax and non recurring items in the current financial year. With international growth under way, and by partnering with and serving some of the largest companies in the world we look to the future with confidence," said SeaEnergy Chairman David Sigsworth.
SeaEnergy shares were up 5.1% to 28.50 pence on the news.
By Sam Unsted; [email protected]; @SamUAtAlliance
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Seascape Energy