Lamprell targets revenue rise

摘要

UNITED Arab Emirates-based shipyard Lamprell is hoping to increase revenues this year after it ran up another full-year deficit in 2018 on the back of slumping sales and a continued loss on a troublesome UK offshore renewable energy project. The Sharjah-headquartered company has set revenue guidance for this year at between $250 million and $400 million. Even at the bottom end, this would be slightly up on the $234.07 million in revenues made last year, with the top end also above the $370.44 million taken in 2017. "We have got the bottom end of that $250 million covered," chief executive Chris McDonald told Upstream after Lamprell revealed a full-year net loss of $70.66 million, an improvement on the year-earlier loss of $98.1 million. "And then it is really about the timing of the full release on the rigs," he added, referring to the letter of intent it was awarded in late December by Saudi joint venture International Maritime Industries (IMI) for the construction of two jack-ups. McDonald said he expects the contract for those two rigs to be firmed up in the second quarter. "So, if we get that, that moves it up a little higher," he added.