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Gulf Marine Svcs Ord 2P (GMS)

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14-May-2021 09:15 AM

Gulf Marine Services annual losses widen on impairment, exceptions costs

Oil and gas support vessels supplier Gulf Marine Services reported wider annual losses as impairment, further restructuring and exceptional costs weighed on results. For the year to 31 December 2020, pre-tax losses widened US$ 123 million from US$ 81.8
16-Mar-2021 09:19 AM

Gulf Marine Services secures 'significantly improved' debt terms; touts optimism ahead

Support vessels provider Gulf Marine Services said it secured 'significantly improved' terms on the debt arrangements with its creditors that would save it about $53 million over the next two years and provide it with the time needed to complete
06-Nov-2020 08:43 AM

Gulf Marine Services says performance ahead of target as contract wins boost utilisation rates

Support vessels provider Gulf Marine Services said performance in the nine months of the year so far, remained ahead of its expectations. Nine-month 2020 adjusted EBITDA delivery remained above its targets, an increase of 25% versus the comparative per
04-Aug-2020 09:58 AM

Gulf Marine Services sees earnings within upper range of guidance

Gulf Marine Services said it expected adjusted core earnings in the upper range of guidance after reporting narrower first-half losses on lower costs. Full-year adjusted 2020 adjusted earnings before interest, taxes, depreciation and amortization (EBITD
01-May-2020 08:28 AM

Gulf Marine Services losses widen on asset writedowns, lower revenue

Offshore wind vessel provider Gulf Marine Services reported wider losses on lower revenue and asset write downs For 2019, pre-tax losses widened to $81.8m from $2.4m year-on-year as revenue fell 12% to $108.7m reflecting lower rates and shifts in the ut
14-Nov-2019 10:06 AM

Gulf Marine Services upgrades outlook on profit amid progress on cost cuts, new contract awards

Gulf Marine Services upgraded its outlook on profit following successful contract awards and continued progress on optimising and reducing costs. The earnings (EBITDA) guidance for 2019 was lifted to a range of $48m to $50m from $45m to $48m previously.
27-Sep-2019 07:42 AM

Gulf Marine Services announces formal waiver agreement

Gulf Marine Services has announced that it has signed a formal waiver agreement with its banks relating to the covenants to be tested with reference to the company's 30 June 2019 half year financial results. The agreement will also provide the compa
21-Aug-2019 09:48 AM

Gulf Marine Services downgrades outlook on earnings

Gulf Marine Services downgraded its outlook on earnings after revising activity levels for its fleet following a detailed review. The company warned that 2019 earnings (EBITDA) would be lower than in 2018, in an expected range of $45 to $48m. The compa
24-May-2019 08:12 AM

Gulf Marine appoints new finance chief

Industry veteran and ex-Royal Dutch Shell employee Stephen Kersley will be appointed chief financial officer of Gulf Marine Services, effective 9 June 2019. Gulf Marine chief executive Duncan Anderson said: 'We are delighted to welcome Mr Kersley
25-Apr-2019 08:59 AM

Gulf Marine Services to restart search for CFO after Stuart Jackson pulls out for family reasons

Gulf Marine Services said it would restart its search for a Chief Financial Officer as Stuart Jackson was no longer able to join the company for family health reasons. Mr Jackson, whose appointment as Chief Financial Officer (CFO) and member of the Bo
05-Sep-2018 11:40 AM

Broker Forecast - Numis issues a broker note on Gulf Marine Services PLC

Numis today reaffirms its buy investment rating on Gulf Marine Services PLC (LON:GMS) and cut its price target to 70p (from 95p). Story provided by StockMarketWire.com Broker Forecasts data provided by www.sharesmagazine.co.uk...
04-Sep-2018 09:48 AM

Gulf Marine Services swings to first-half loss as contract delays weigh

Gulf Marine Services swung to a first-half loss after contract delays hurt performance, though the company said it expected to return to profit in the second half of the year. For the six months to 30 June, the company reported statutory pre-tax losses o
15-Jan-2018 09:57 AM

GMS existing existing bank facility extended

Gulf Marine Services has agreed a two-year extension to its existing bank facility with final maturity in 2023 and scheduled loan repayments reduced by two-thirds in both 2018 and 2019. The financial covenants amendments and certain restrictions on cap
19-Sep-2017 07:32 AM

GMS net profits tumble in tough environment

Gulf Marine Services' net profits fell to $0.7m in the six months to thje end of June - down from $27.8m last time. Revenue for the first half of 2017 was $58.5m - down from $110.4m - and adjusted net profit fell to $9.4m from $41.9m. Adjusted
10-Aug-2017 10:50 AM

Broker Forecast - Numis issues a broker note on Gulf Marine Services PLC

Numis today reaffirms its buy investment rating on Gulf Marine Services PLC (LON:GMS) and cut its price target to 95p (from 130p). Story provided by StockMarketWire.com...
09-Aug-2017 09:20 AM

GMS covenants revised

Gulf Marine Services has announced amendments to its bank facility agreement. Chief executive Duncan Anderson said: "We are pleased to have the support of our banking syndicate and appreciate its confidence in our business. "The covenant amen
07-Jul-2017 07:58 AM

GMS schedules H1 results

Gulf Marine Services - a leading provider of advanced self-propelled self-elevating support vessels serving the offshore oil, gas and renewable energy sectors - will announce its results for the six months to the end of 30 June on 19 September. St
10-Apr-2017 09:05 AM

Gulf Marine Services clinches new contracts

Gulf Marine Services has been awarded two new long-term contracts in Europe to support wind farm projects for an international energy company. It said the new contracts, scheduled to commence in Q2 2018, were for two large class SESVs. One contract w
31-Mar-2017 08:20 AM

Broker Forecast - Barclays Capital issues a broker note on Gulf Marine Services PLC

Barclays Capital today reaffirms its equal weight investment rating on Gulf Marine Services PLC (LON:GMS) and set its price target at 85p. Story provided by StockMarketWire.com...
20-Feb-2017 02:02 PM

Gulf Marine schedules prelims

Gulf Marine Services has confirmed that it will announce its Preliminary Results for the period ended 31 December 2016 on 28 March 2017. At 2:02pm: (LON:GMS) Gulf Marine Services PLC share price was +0.13p at 66.25p Story provided by StockMarketWir
17-Jan-2017 10:50 AM

Broker Forecast - Barclays Capital issues a broker note on Gulf Marine Services PLC

Barclays Capital today reaffirms its equal weight investment rating on Gulf Marine Services PLC (LON:GMS) and raised its price target to 72p (from 55p). Story provided by StockMarketWire.com...
06-Jan-2017 12:00 PM

Broker Forecast - Canaccord Genuity issues a broker note on Gulf Marine Services PLC

Canaccord Genuity today reaffirms its buy investment rating on Gulf Marine Services PLC (LON:GMS) and raised its price target to 70p (from 60p). Story provided by StockMarketWire.com...
03-Jan-2017 01:48 PM

GMS contract win

Gulf Marine Services, a leading provider of advanced self-propelled self-elevating support vessels serving the offshore oil, gas and renewable energy sectors, has won a new long-term contract award for one of its mid-size class vessels. The new charter i
06-Dec-2016 03:42 PM

GMS directors to step down

Gulf Marine Services independent non-executive director Mike Straughen and non-executive director Richard Dallas will step down from the board with effect from 1 January. Chairman Simon Heale said: "On behalf of the board I would like to thank Mike
15-Nov-2016 09:30 AM

Gulf Marine Services confirms Europe contract

Gulf Marine Services has confirmed that, further to the announcement of a letter of intent on 30 August, the legal documentation for the charter of one of its vessels in Europe has now been completed. The new contract is for a Large Class vessel to sup

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