Lamprell once again issues profit warning

Shares in energy markets-focused engineer Lamprell plunged over 30 per cent on Thursday after it announced that as a result of additional costs arising from the delayed deliveries of the Windcarrier 1 and 2 projects, the loss at the half year is expected to be around 45m dollars.

By MoneyWeek

published 26 July 2012

in Features

In addition, an extension to the timeframe for achieving direct overhead and corporate cost savings that were previously anticipated will affect the full year result. Revenue for 2012 is still anticipated to be around $1.1bn, however, the company now anticipates a loss for the year in the range of $12m to $17m.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

The share price fell 31.03% to 85p by 16:14. It has now lost 310p, or 78%, over the past year.

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.