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Lamprell's Chief Executive Jim Moffat has steered the oil rig maker back into profits after less than six months in the job. The United Arab Emirates-based company, which yesterday admitted Finance Director Frank Nelson was leaving for personal reasons, said results in the first half had beaten exp
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* H1 pretax $10.1 million vs year-ago $50.8 mln loss * Revenue broadly flat at $521 million * Warns revenue down next year * Shares up 5 pct (Adds detail, CEO and analyst comments) By Stephen Eisenhammer LONDON, Aug 29 (Reuters) - Oil rig maker Lamprell Plc return
Read moreAfren: Westhouse Securities shifts target price from 160p to 165p and reiterates a buy recommendation. BAE Systems: Bank of America raises target price from 328p to 412p, while staying with its underperform rating. Cape: JP Morgan takes target price from 308p to 323p and stays with its overweight
Read moreThe FTSE Small Cap index and junior-listed AIM shares are 0.1 percent and 0.2 percent higher respectively, underperforming the wider market, where the mid-caps and the blue chips are 0.4 percent and 0.6 percent stronger. Oil rig maker Lamprell gains 3.5 percent after saying it has returned
Read moreLONDON, Aug 29 (Reuters) - Oil rig maker Lamprell returned to profit in the first half of 2013, bouncing back from crushing losses in 2012, but warned that new contract wins had been slow and revenue would be down next year. Lamprell posted profit before tax of $10.1 million compared to a
Read moreLamprell, which provides engineering and contracting services to oil and gas companies, said its Chief Financial Officer Frank Nelson is stepping down. The United Arab Emirates based company said Nelson was leaving to return to the UK for "personal reasons". Joanne Curin, an experienced Financial
Read moreLONDON, Aug 28 (Reuters) - Oil rig maker Lamprell is due to lose its chief financial officer, the debt-burdened company said on Wednesday, a day ahead of interim results. Frank Nelson is leaving for personal reasons, according to Lamprell, and will be replaced by Joanne Curin from Oct. 1.Read more
Two rejected takeover proposals for Kentz Corporation gave London's oil services sector a lift on Monday, with the FTSE 250 constituent rising by as much as a quarter in afternoon trade in the hope that this could signal the start of a bidding war. Kentz rocketed after saying that it has rebuffed a
Read moreThe FTSE Small Cap index climbs 0.3 percent, slightly underperforming the wider market, with the blue chips up 0.4 percent and the midcaps 0.5 percent firmer. Lamprell, a provider of diversified engineering and contracting services, firms 2.2 percent after satisfying conditions to use new
Read moreOil rig maker Lamprell has struck a deal for the refinancing of its debt facilities. Having told the market in June that it had received binding commitment letters for the arrangement of a new banking facility, it said it had now signed a definite agreement. It said the deal was subject to certain
Read moreAfrican Barrick Gold: Nomura lowers target price from 200p to 155p, while upgrading from reduce to buy. Barclays: Bank of America reduces target price from 410p to 370p, while leaving its buy recommendation unchanged. BHP Billiton: Investec ups target price from 1919p to 1926p maintaining a buy re
Read moreAshtead Group: Jefferies takes target price from 690p to 750p and leaves its buy recommendation unchanged. ASOS: Deutsche Bank increases target price from 3300p to 3800p and reiterates a hold recommendation. Atkins: Liberum Capital takes target price from 1020p to 1100p and maintains a buy recomme
Read moreLamprell, provider of engineering and contracting services to the oil and gas industries, has signed a 181m dollar new secured banking facility with a reduced number of five banks. The agreement includes a $100m and a $60m term loan and a $21m revolving credit facility. Lamprell said the new arra
Read moreThe FTSE Small Cap index gains 0.2 percent, outperforming the wider market, with both the blue chips and the midcaps trading flat. Lamprell drops 5.6 percent, making it the second-top faller on the FTSE Small Cap index, as both Investec Securities and Liberum Capital downgrade their rating
Read moreAlent: Credit Suisse initiates with a target price of 430p and an outperform rating. Amlin: Morgan Stanley ups target price from 428p to 469p, while maintaining an overweight rating. Anite: Espirito Santo cuts target price from 180p to 165p retaining a buy recommendation. Ashtead Group: UBS takes
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