September 11, 2019 / 6:53 AM / a month ago

Gulf Marine Services delays results as talks with lender continue

Sept 11 (Reuters) - Shares in Gulf Marine Services were expected to fall about 10% in early trading on Wednesday after the oilfield industry contractor said the publication of its first-half results would be delayed.

Gulf Marine, which was expected to report results on Wednesday, said the delay in finalising its accounts was because of the ongoing talks with a lender about continued access to one of its working capital facilities, which provides short-term liquidity.

The Abu Dhabi-based offshore services specialist’s chief executive officer resigned last month after it warned a reassessment of its ships and contracts showed profit would fall this year.

Reporting by Noor Zainab Hussain in Bengaluru; editing by Arun Koyyur

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below