Lamprell - drop in order book doesn’t look good
The manufacturer of offshore rigs issued interim results in line with expectations but the big fall in the order book is surely a concern
Top line revenue was up just over 100% resulting in a 45% increase in operating profit and 40% increase in adjusted earnings per share to 12.41 cents. The proposed interim dividend was 4 cents (equating to a yield of 0.88%) up from 3.50 cents previously. The above results are after stripping out exceptional income and costs. The order book stood at US$ 869m which represented a steep fall from US$1,090m at 31st March 2011. More…
Previous article Next article
