The electrical and oil & gas equipment group’s FY results were in line with our expectations, but the statement indicated that, although the group’s performance had stabilised, demand for oil and gas related volumes appeared likely to remain “lower for longer”. As a result of reduced sales expectations and changing mix of costs, we have moved our forecast 2017 loss before tax from -£1.1m to -£3.5m, but our new 2018 forecast assumes a modest profit. We r
25 Apr 2017
O&G demand to stay “lower for longer”
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O&G demand to stay “lower for longer”
- Published:
25 Apr 2017 -
Author:
Alastair Stewart -
Pages:
6
The electrical and oil & gas equipment group’s FY results were in line with our expectations, but the statement indicated that, although the group’s performance had stabilised, demand for oil and gas related volumes appeared likely to remain “lower for longer”. As a result of reduced sales expectations and changing mix of costs, we have moved our forecast 2017 loss before tax from -£1.1m to -£3.5m, but our new 2018 forecast assumes a modest profit. We r