Chairman to step down as Lamprell warns on profits

Energy markets-focused engineer Lamprell was battered on Friday morning after sneaking out a profit warning on Wednesday after the London market closed.

Energy markets-focused engineer Lamprell was battered on Friday morning after sneaking out a profit warning on Wednesday after the London market closed.

The group has revised its sums and updated its earnings guidance, and the news is not good. The group now anticipates it will make a half-year loss of between $15m and $20m. In its trading update on May 16th, the group indicated it expected to make "a small loss" at the half-year stage, with a recovery expected in the second half of the year.

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