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.

Bought half a shed full over the last couple of days.

Someone has been dumping stock over the last few days presumably because oil price has been on the slide but more importantly it's results tomorrow and they want out.

Chairman has spent a million quid buying into this and I'm in at a price lower than him so I'm happy. Other directors bought recently too.

I bought on that gap closure so am smarting atm.

CIU should help today?

Final Results

Highlights

Exceptional financial results
· Excellent financial results driven by robust operational performance, favourable phasing of project cycles and supported by early savings from productivity improvements
· Revenues broadly flat against FY 2013 as expected
· Record profit levels for 2014, only two years after the challenges of 2012
· Rights issue and refinancing successfully completed, putting the Company in a position of relative strength during current period of industry and market weakness

Strong operational performance and project execution
· Delivered nine major projects in a single year, a record for the Group
· Delivery of three further jackup rigs to largest client, National Drilling Company, strengthening client relationship and leading to additional jackup orders in November 2014
· Record-breaking 13,200 tonne production utilities and quarters deck delivered to Nexen with ten million manhours completed without a day away from work case
· Orders for six new build jackup rigs won during 2014 with top tier clients
· Backlog of US$ 1.2 billion at year-end (31 December 2013: US$ 0.9 billion) with bid pipeline at approximately US$ 5.2 billion at 31 December 2014 (31 December 2013: US$ 4.7 billion)

Delivering on our strategic objectives
· World-class safety performance, achieving highest safety standards in Company's history
· Leveraging our key strengths to diversify client base with major awards from new top tier clients
· Project Evolution progressing well with initial savings realised
· Organisational restructuring implemented generating overhead reductions
· Maintaining our focus on core markets, with long-term goal of broadening addressable markets
· Disposal of a non-core service business completed with a second nearing completion

Current trading and outlook
· Oil price decline has led to falling oil & gas and renewable energy capex
· Focus remains on conversion of bid pipeline, with awards for some projects delayed
· Six new build jackup rig orders, a large piperack module project and a number of minor refurbishment projects currently underway and progressing well
· Options for additional rigs from Ensco and NDC extended to Q4 2015 and Q2 2015 respectively
· Adjusted revenue coverage at approximately 80% for the year, affirming earlier guidance for 2015

That's one opeing gap - well timed CC.

Lovely when a plan comes together. I have been watching this for months.

Now unfortunately I haven't done half as much research on where to close this trade.

Does anyone understand the 5 year chart and the big gap down a couple of years ago?

WAS THAT INSIDE INFORMATION?
buying shares 2 days before results

Director Deals - Lamprell PLC (LAM)
John Kennedy, Chairman, bought 18,505 shares in the company on the 17th March 2015 at a price of 101.04p.
The Director now holds 1,601,939 shares.
NOTE: Actual transaction price - £18,697.04

i used to be a great fan of this company, and then of course it fell on very hard times
however, i put some into my sipp a few weeks back as i don't think this is really a trading share
their figures and outlook look pretty good to me given the problems engendered by the collapsed oil price, and an added bonus is that i still think they're a potential t/o target

.

CC this was the cause then - TRADING UPDATE

Have a read for a few pages from here on

Thanks Skinny. I do remember about the directors selling at the peak now but I haven't read the rest of the story before. Doesn't bother me. More than anything I wanted to make sure there wasn't some glitch in the chart.

I have decided to sell out in tranches but still don't have a plan as to where. I will see how the price action develops and where the price of oil goes and decide from there.

I have a view that oil is going back to $60 a barrel over the next year and on that basis I'm in no hurry to sell and happy to see what develops.

Worth a read - Lamprell man buys as profits double

Lamprell man buys as profits double
Lamprell (LAM) returned to profit last year after a string of profit warnings in 2012 left the oil services company a pale shadow of its former self. Now, in 2014, the firm has generated record profits on flat sales and the shares bounced sharply from recent lows.

Chairman John Kennedy, who took over the role amid the chaos of 2012, has jumped at the chance to boost his holding, buying £18,700 worth of shares on Thursday. He'd already bought a slug of stock in January with other directors. Although annual sales were flat at just over $1 billion, the oil rig firm doubled underlying operating profit to $109 million and diluted earnings per share is up nearly three-fold at 37.4 cents.

The acting CFO has warned that this impressive margin may not be sustainable, but bullish industry expert Malcolm Graham-Wood reckons he is being cautious. "What can only be described as a cracking set of figures from Lamprell this morning as 2014 smashed the whisper and beat every target in the book," commented Graham-Wood. "This is truly a landmark for Lamprell in every way. Behind all this is the new strategy which encompasses a better commercial performance including a much better focus on biddable projects and savings on procurement and factory efficiency, aided by some very smart new kit."

Cost of sales fell from $952 million to $902 million and cash at the end of the year stood at $272.6 million after a rights issue raised $120 million.

Management are pinning the "exceptional" results on robust operational performance, successful phasing of project cycles and savings made from improvements to its productivity. Operationally, Lamprell knocked it out of the park, delivering nine major projects in just 12 months, a group record. Another three rigs were taken to its largest client National Drilling Company and a record-breaking utilities and quarters deck was delivered to Nexen and now holds a spot in the Guinness World Book of Records. With a backlog of $1.2 billion and a pipeline worth around $5.2 billion, investors have a pretty good idea of what the year ahead holds, a positive in the current market.

Management boast that this performance has been achieved just two years after the challenges of 2012 wiped nearly 80% of the company’s market cap. And they have a point. Then, Lamprell was handed a £2.4 million fine from the UK Financial Services Authority (now the Financial Conduct Authority) for failing to warn the market soon enough about late-running or over-budget projects.

However, the slump in oil prices has caused many exploration and production companies to slash capex budgets. As the number of oil projects shrinks, so will the demand for rigs. So, Lamprell's focus has to be on the conversion of its bid pipeline and the delivery of the six mew jack-up rig orders, pipe-rack module produce and minor refurbishment projects.

"The sharp market deterioration at the end of the year has brought significant uncertainty around 2015," it says. "Our business has a certain degree of flexibility built in and we will look to mitigate the impact on Lamprell but pressure on margins and the inevitable slowdown is likely to affect everyone."

It's doubtful the market expected these results as the oil market bear run has knocked over a third off Lamprell's value. Rallying by 11%, the shares are trading at 113p, putting the shares on 9 times forward earnings, a discount to the sector.

Peer Hunting trades on 14 times forward earnings, Wood Group trades on a multiple of 11 and Petrofac 10 times. Next year isn't going to be easy for anyone in the oil space, but there is a lot of bad news already in the price and directors are certainly putting their money where their mouth is.

Going well today. New Selftrade / Equiniti site will only permit 'At best' trades on this stock. No 'At limit' possible which is a bit of a drag.

Time for a new broker Harrycat? I have put 4 traders through on this stock. Three with HL and one with TDW. All were above NMS and in all cases I got a very decent price well inside the spread.

You could be right CC. Will have to watch in the meantime.
Target.....200 DMA, so somewhere around the 135p level.

NOTICE OF AGM ANNUAL REPORT AND ACCOUNTS


Lamprell (ticker: LAM), a leading provider of diversified fabrication, engineering and contracting services to the onshore and offshore oil & gas and renewable energy industries, announces that today it has posted its Annual Report and Accounts for 2014 and the Notice of the 2015 Annual General Meeting ("AGM"), together with the Form of Proxy, to shareholders. The AGM will be held at the Level 7, Emirates Towers, Sheikh Zayed Road, Dubai, United Arab Emirates on Tuesday 12th May 2015 at 10:00 AM (UAE time).

Copies of the documents are being submitted to, and will be available for inspection at, the UK Listing Authority's Document Viewing Facility via the National Storage Mechanism, which is accessible through http://www.hemscott.com/nsm.do.
The Annual Report and Accounts for 2014, the Notice of the 2015 AGM and the Form of Proxy will also be available for download from the Company's website at www.lamprell.com.

Numis Buy 117.75 114.50 - 219.00 Initiates/Starts

I was starting to get frustrated with this stock on Friday then along come Numis today and whoosh. Clearly there are still sellers in this area but the longer it stays here the more I think they will get exhausted

I would dearly love to see the 50MA start to turn up a bit faster and move faster towards the 200MA.

I think it likely I will have to be patient a while longer

Hi CC - these have been very good to me over the years - I bought my current holding @115.95 - a bit early as it transpired - having sold the last lot @171 back in September.

AGM 12th May - Financial Calendar