Source - Alliance News

Gulf Marine Services PLC - London-based provider of self-propelled and self-elevating support vessels, to customers in the oil, gas, and renewables sectors - Lifts annual outlook. Now expects earnings before interest, tax, depreciation and amortisation in the range of $83 million to $86 million for 2023, lifted from its previous $77 million to $85 million outlook. ‘Given significant improvement in backlog visibility and market outlook evidenced in the recently announced contract awards, alongside future opportunities we’re bidding for, we are confident to increase our market guidance for 2023 and to provide an even higher initial guidance for 2024,’ it says. For 2024, it predicts an Ebitda in the range of $87 million to $95 million.

Current stock price: 13.15 pence, up 4.5% on late Monday morning in London

12-month change: multiplied from 5.43 pence

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