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Ades International revenue in Q3 held back by lower utilization rates
StockMarketWire.com
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Oil & gas drilling and production services Ades International reported that revenue of $100 million in the third quarter of the year was hurt by lower utilization rates.
For the nine-month period ending 30 September 2020, revenue increased 2% to US$349 million from US$342 million year-on-year increase.
The year-to-date utilization rate stood at 90%, down from 95%.
'Despite the global challenges of COVID-19, the group reiterates its FY 2020 guidance for a broadly flat performance year-on-year,' the company said.
At 9:38am: (LON:ADES) ADES International Holding Ltd share price was 0p at 9.35p
Story provided by StockMarketWire.com
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