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16 Nov 2017
Final results update
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Final results update
Plexus Holdings (POS:LON) | 17.5 0 0.3% | Mkt Cap: 18.4m
- Published:
16 Nov 2017 -
Author:
Ian McInally -
Pages:
4
Plexus this morning announced prelim results for the year to June 2017 with both revenue and LBITDA better than forecast. Since the period end, Plexus announced the sale, subject to completion of certain conditions, of its jack-up exploration wellhead rental business to TechnipFMC. Post completion of this transaction Plexus will become a very well resourced, focussed specialist IP-led business. In addition Plexus retains upside exposure to the return of jack-up exploration drilling activity through the three year earn-out arrangement and the retention of the existing Russian and CIS jack-up licence but importantly remains free to pursue the much larger surface production market and the substantial subsea market.