EXPRO INTERNATIONAL GROUP PLC
23 September 1999
UPDATE ON OUTLOOK
Expro outlined today that the underlying outlook for its global
oilfield services business remains robust. As was highlighted
at the preliminary results announcement on 9 June 1999, there
will be a heavier than normal bias to the second half of the
year. However, the deferral of a number of projects by oil and
gas producers is having an impact on the Group's performance
this year.
The Company stated that market expectations of achieving first
half results comparable to last year would not be achieved in
the current environment and that this shortfall would not be
redressed. Contract activity for the second half to March 2000
and for the next financial year, is already showing signs of
strong recovery.
Expro's broad service and product range and wide geographic
spread continues to provide balance. Strong growth has been
exhibited in the Americas and Africa markets ameliorating the
impact of the anticipated lower activity levels in the North
Sea and Continental Europe. Demand for deepwater expertise, a
global distribution network and focus on production enhancement
activities leaves the Group well placed in a $14 real oil
environment.
For further information, please contact:
Expro International Group plc On 23rd September: 0171 588 2828
John Dawson, Chief Executive Thereafter: 0118 9591341
Eric Woolley, Finance Director
Cazenove & Co. 0171 588 2828
Mike Kirk
Ludgate Communications 0171 253 2252
Robin Hepburn
Denise Peplow
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