Lamprell Revenue Dips, Tightens Purse Strings
Oil-rig builder Lamprell Plc said it would continue to maintain a tight reign on costs as it stuck to its guidance of lower 2017 revenue. The company, which mainly focuses on contracts around the United Arab Emirates, said it expected 2017 revenue to be between $400-$500 million, with the current market pointing towards the lower half of the range.
Lamprell Appoints New CEO
Lamprell a leading provider of diversified fabrication, engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries has appointed Christopher McDonald as Chief Executive Officer and director effective 1 October 2016, succeeding Jim Moffat who will be retiring from the Company as previously announced.
Lamprell CEO to Retire in 2016
Oil rig maker Lamprell Plc said Chief Executive James Moffat would retire next June and that it had promoted Tony Wright to the role of chief financial officer with immediate effect. John Kennedy will take on the role of executive chairman until the next annual general meeting in 2016, the company said on Friday. Lamprell said it had commenced the search process to find a new CEO.
Lamprell First Half Results Beat Expectations
Lamprell today announced its financial results for the first half of 2014, reporting results ahead of expectations due to strong operational performance and early results from savings initiatives, generating improved margins. Revenues rose by $125.7 million against H1 2013 as a result of the high H1 activity levels and phasing of construction activity during the period.
