No recommendation
No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.
(Sharecast News) - Gulf Marine Services said on Tuesday that it has secured a two-year contract extension for one of its mid-size vessels currently operating in the Gulf Cooperation Council (GCC) region.
The company, which provides selfpropelled, selfelevating support vessels to the offshore energy industry, said this comprises one firm year plus a one-year option. With this extension secured, its backlog has increased to $607m.
Executive chairman Mansour Al Alami said: "Closing the year with this award is a strong endorsement of GMS's strategy, fleet performance and disciplined execution.
"With a robust backlog and a supportive industry outlook, we remain well positioned to deliver sustainable value for our stakeholders."
At 1015 GMT, the shares were up 6% at 19.89p.
The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.