The Lamprell Group has played an important role in the development of the offshore industry in the Arabian Gulf for over 30 years, providing increasingly specialised services to the offshore oil industry. Lamprell is managed by British nationals, with its corporate headquarters in Sharjah, one of the United Arab Emirates, Lamprell operates a full service jackup rig refurbishment facility in Sharjah and a modern, well equipped fabrication facility in Jebel Ali Free Zone, Dubai.

Lamprell located in the most important oil and gas region in the world, in one of the key commercial centres in the UAE.

Lamprell has its own core skilled and experienced workforce as well as access to additional skilled labour from the local labour supply market.


AIM Rule 26 Disclosure

This, in addition to the Group�s safety focused culture and experienced project management skills, helps to ensure customer satisfaction is maximised whilst risks are reduced.

Lamprell has built up its strong market position by offering a differentiated service to its clients based on safe working practices and completing projects on time, on budget and to a high quality. Accordingly, we believe that the Company has established a position of sustainable competitive advantage in the region.

Questor share tip: Lamprell a bright prospect in a buoyant sector
Garry White, 7:16, Sunday 20 November 2011

Eurozone debt fears have caused stock market valuations to tumble, even in an industry where the outlook is pretty rosy. Oil services is one of these sectors and falls have created a buying opportunity.

Lamprell (Frankfurt: A0LC3A - news) 259.2p Questor says BUY

Current market woes are not going to stop oil exploration activity. The world needs more energy and industry sources have confirmed to Questor that activity continues to be strong.

Lamprell builds and refurbishes equipment for the offshore oil industry, with a speciality in jack-up rigs. These rigs are mobile and are able to stand on the sea floor on supporting legs. The main operation is in Abu Dhabi in the Middle East, but the group has also recently expanded into Thailand to refurbish jack-up rigs for the wider South-East Asian region. It also makes offshore wind turbine installation vessels, an industry that is growing fast globally.

The 680m market cap company has won $1.07bn (675m) in contracts since the start of the year. At the end of October, its order book stood at $1.2bn, with orders going out until the second quarter of 2014.

Lamprell has been active in the Arabian Gulf for more than 30 years and it listed on Aim in 2006 before moving to the main board two years later. The company is highly geared to offshore oil production it also makes floating production storage and offloading vessels. These markets are likely to remain buoyant for some time.

In the six-months to the end of June, revenues rose 102.6pc to $283.6m, with operating profits up 45pc to $41m.

The company issued an upbeat third-quarter trading update last week, where it confirmed it continued to see a high level of enquiries. It has shown these enquires can be turned into orders, with an impressive order flow of late. Indeed, a contract for a self-elevating mobile offshore drilling platform unveiled a couple of weeks ago is not accounted for in the backlog figure. Analysts reckon this contract could be worth around $170m. It is likely that more news on orders will come over the coming months. The shares are trading on a December 2012 multiple of 13.1 times, falling to 9.2 in 2012. The prospective yield is 3pc.

The shares have plunged from a high of 395.2p in July and, given industry fundamentals, the fall looks overdone.

Questor says buy.

Punt - Long Buy order triggered on the spreads @ 277.10 Mar contract, initial target 300.0. Prelim results 26/03. Stop 218.2

The above - Pass? supposed to be the chart. Stop to entry for riskfree trade. :O)

Chris - if you edit the code in post 172 and insert double quotes after LAYOUT= (near the end) it will work.

Perfect - Cheers skinny.

Stop to 287.1 to lock in + 10

Closed @291.9 + 14.8

following what looked to be promising noises of late, results show otherwise - sp down 200! ..... phew!! glad i'm not holding

The market has gone bonkers... Lamprell is a good company.

It's a good bargain at 94p.

Sorry for holders here, but how rotten to the core is this?

Scott Doak, Director, sold 200,000 shares in the company on the 2nd May 2012 at a price of 363.69p. The Director now holds 276,248 shares.

Scott Doak, Director, sold 21,679 shares in the company on the 24th April 2012 at a price of 330.23p. The Director now holds 476,248 shares.

just fortunate good timing - hahaha!

Bought some at 95p...made a 10% profit in 30 minutes... not bad

Well done - I was tempted, but know nothing at all about the company atm.

Guys

I am not in here- had a small trade a while ago. The director deal looks not the best from a governance point of view and think someone might have a litle look at it if you get my meaning.

but hope you have now banked as recovery looks to be running out of puff .... you were a brave chap, but very well done

Amazing volume in the initial sell off.

..Regulator to probe Lamprell over share dealing ahead of profit warning

By Garry White and Jonathan Russell | Telegraph – 6 minutes ago

The City regulator is to ask Lamprell (Frankfurt: A0LC3A - news) to explain how senior managers sold £1.7m worth of shares just weeks before it issued a profit warning.

The company’s shares plunged by almost two thirds after the oil rig maker slashed its profit forecast by 60pc.

Two weeks ago, Kevin Isles sold 250,000 shares at 361.7p apiece, banking £904,250. Scott Doak also sold 200,000 shares after selling 21,679 shares in the previous week. Mr Doak’s two sales realised £798,985.

The share sales followed an announcement on May 1 that the company had won an order worth $227m (£143m) from an unnamed international drilling contractor.

Nigel McCue, chief executive of the FTSE 250 (FTSE: ^FTMC - news) company, said that both men had complied with company procedures.

'The company operates a strict share dealing policy in line with all appropriate disclosure and regulatory frameworks, and both these sales fell within that in the normal and entirely proper way,” Mr McCue said. “Neither employee sits on the board nor were party to the material contained in today’s announcement.”

Mr Isles is Lamprell’s executive vice president of the group’s operations at Sharjah and Hamriyah in the United Arab Emirates and Mr Doak is the company’s integration and development director.

The Financial Services Authority declined to comment.

The manufacturer of oil rigs and vessels for installing wind turbines said progressive delays in key equipment and a “slippage” in the timing of new contract awards would result in a first-half loss. The shares slumped 167.8 to 127p after the full-year profit forecast was slashed to $38m to $40m from a consensus view of $117m.

“We expect a substantial discount to the sector will persist until investor confidence is rebuilt and the company loses its 'accident prone’ reputation,” Keith Morris, an analyst at Investec Securities, said. Mr Morris cut his rating on the shares to hold from buy and slashed his price target to 200p from 450p.

The profit margins this year is expected to be 3.5pc compared with consensus of 9.5pc, before rising to 7.5pc next year.

“We see continued strength in our operating markets, our bid activity remains at a historically high level and the board remains optimistic that the long term prospects of the group remain promising,” Lamprell said. The company has a forward order book valued at $1.6bn. The company’s bidding pipeline at the end of April was $4.8bn.

..

Nigel McCue, chief executive, said that both men had complied with company procedures.
of course he did, and i wonder if these guys are ex-pats and thus effectively escape close scrutiny and censure ..... assuredly these sales were too large and profitable and recent to be triggered by other than inside information on the state of the company's trading ..... i am very sure that there are monthly internal management accounts issued and recent board meetings at which the impending dismal figures would have been discussed