Arab Today, arab today record contracts boost lamprell profit 108
Last Updated : GMT 07:10:07
Arab Today, arab today
Arab Today, arab today

Record contracts boost Lamprell profit 10.8%

Arab Today, arab today

Arab Today, arab today Record contracts boost Lamprell profit 10.8%

Abu Dhabi - Arabstoday

Lamprell announced yesterday that its revenue increased 127.8 per cent to $1.14 billion (Dh4.21 billion) in 2011. Its adjusted net profit was up 10.8 per cent to $73.8 million from $66.6 million in 2010. In 2011 the group was awarded a record $1.1 million worth of contracts, the company said. Lamprell proposed a final dividend of 8.00 cents per ordinary share. \"We\'re very pleased with the numbers,\" said its CEO Nigel McCue, adding that the acquisition of Maritime Industrial Services Co had significantly contributed to consolidating the company\'s position as a market leader in the provision of contracting products and services in the oil and gas, and renewables industry. The acquisition of Maritime Industrial Services Co was completed in July 2011, increasing Lamprell\'s yard space to 925,000 square metres and the quayside to 2.2 km, which has helped expand the group\'s service offering, customer base and geographical range. \"The ongoing increase in the oil price has also helped to bolster a record bid pipeline, and we ended the year with unprecedented levels of enquiries and bid activity,\" he said. Last year the group undertook 43 jackup rig upgrade and refurbishment projects. Contracts secured an additional five jackup rigs, giving the group\'s eight new build rigs under construction at year-end. In the renewable sector for wind farm installation vessels, McCue said that Lamprell delivered two vessels and is expected to deliver three more this year, adding that the group contributes to almost 25 per cent of all the vessels that are built for the wind farm market worldwide. \"It\'s an important part of our business and going forward we\'re very positive about it,\" he said. When asked about the expectations for 2012, McCue said that this year will be a \"strong year\" with growth at around 10 per cent over 2011. Although most of the group\'s work is carried out in the UAE, the company is currently looking at increasing its capacity with two joint ventures in Saudi Arabia and Iraqi Kurdistan. \"We feel that the situation in Kurdistan is politically much more stable than in southern Iraq, and we are quite comfortable working there,\" he said. From gulfnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today record contracts boost lamprell profit 108 Arab Today, arab today record contracts boost lamprell profit 108

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today record contracts boost lamprell profit 108 Arab Today, arab today record contracts boost lamprell profit 108

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Residents get glimpse of Raqa in ruins

GMT 07:10 2017 Saturday ,21 October

Residents get glimpse of Raqa in ruins
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday