August 21, 2019 / 6:27 AM / a month ago

Gulf Marine CEO quits after review shows profit to fall

Aug 21 (Reuters) - Offshore oilfield services contractor Gulf Marine Services Plc’s Chief Executive Officer Duncan Anderson has resigned, the company said on Wednesday, as it warned that a reassessment of its ships and contracts had shown annual profit would fall short of previous expectations and be lower than 2018.

The company said it now expected 2019 core earnings between $45 million and $48 million after the review by its new finance chief of year-to-date performance and expected activity levels for its large E-class vessels.

The company had appointed Stephen Kersley as chief financial officer in late May. (Reporting by Yadarisa Shabong in Bengaluru; editing by Patrick Graham)

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