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.
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.
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
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
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.
NR
-
Hargreaves Lansdown shakes up fees in biggest change in 10 years – what does it mean for you?Hargreaves Lansdown is lowering its headline fee from 0.45% to 0.35% – but not everyone will be happy with the new fee structure, it’s been suggested.
-
Michael Moritz: The richest Welshman to walk the EarthMichael Moritz started out as a journalist before catching the eye of a Silicon Valley titan. He finds Donald Trump to be “an absurd buffoon”
