Northbridge’s AGM statement appears to be more upbeat in tone than at any point in the past three years since the oil tools and electrical equipment services group was hit by the collapse in energy prices. Although this improvement has yet to translate into increased hire rates, we believe the lift in sentiment looks encouraging. We are not changing our forecasts at this point but believe the risk-reward profile is looking more promising.
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Sentiment continues to improve
- Published:
31 May 2018 -
Author:
Alastair Stewart -
Pages:
2
Northbridge’s AGM statement appears to be more upbeat in tone than at any point in the past three years since the oil tools and electrical equipment services group was hit by the collapse in energy prices. Although this improvement has yet to translate into increased hire rates, we believe the lift in sentiment looks encouraging. We are not changing our forecasts at this point but believe the risk-reward profile is looking more promising.