30.12.2024
Just a week ago this £169m group advised the market that its 2024 and 2025 results should be better than expectations.
Set up in Abu Dhabi in 1977, it has subsequently become a world-leading provider of advanced self-propelled self-elevating support vessels.
Its fleet of 13 vessels serves the offshore energy industries from its offices in the United Arab Emirates, Saudi Arabia, and Qatar, they are capable of serving clients' requirements across the globe, including those in the Middle East, South East Asia, West Africa, North America, the Gulf of Mexico, and Europe.
For the year to the end of this month, the group could see $168.4m sales, and adjusted pre-tax profits of $43.6m, worth 3.3c per share in earnings.
Next year, that could be $176.4m revenues, $55.0m profits and 4.3c per share in earnings.
The shares, which are now 15.90p, have been valued at 30p, thereby offering massive upside in price.