UAE-based rig maker Lamprell back into the black with $14.7m profit - The National

UAE-based rig maker Lamprell back into the black with $14.7m profit - The National:

"The UAE-based rig maker Lamprell swung into profit in the first half of the year, reversing losses incurred as the company ventured from its core oil and gas business.

Lamprell recorded a profit of US$14.7 million on revenues of $521m. The first-half figure contrasted with a net loss of $110.5m for the full year in 2012, when delays and cost overruns during the construction of an offshore wind-turbines carrier cost the company dear.

"After the challenges of 2012, I am pleased to be able to report a return to profitability for the group," said James Moffat, Lamprell's chief executive."

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