Jan 31 Oil rig maker Lamprell said it
had made good progress in talks with lenders to refinance its
debt, and it was likely to post a 2012 loss in line with its
The company, which negotiated waivers for its banking
covenants earlier this month, said talks with lenders were
continuing, even though a deal remained several months away.
The company also said its trading position was stable.
Lamprell said in early January that its working capital
position had improved significantly in recent months and it had
ended 2012 with net cash of about $100 million due to improved
revenue and tighter financial controls.
It had warned in November that its full-year loss would be
seven times bigger than earlier thought - its fifth profit
warning of the year.
Shares in the United Arab Emirates-based company were up
about 3 percent at 126.19 pence at 0906 GMT. The stock lost
nearly two thirds of its value last year.