Lamprell Share Discussion Threads

[trigger blade] 13/11/2014 12:11

Looking back at last October's IMS, the order book was $1 billion, now it's $1.2 billion, so the order book is a bit more full than it was 12 months ago.

The bid pipeline was $4.6 billion then, now it's $4.9 billion. I have no experience of the industry, but what proportion of the bid pipeline would LAM expect to pick up?

[poleaxe] 13/11/2014 11:55

No mention of a dividend?

[tipjunkie] 13/11/2014 11:37

bot buying again after a bit of a break

[mad foetus] 13/11/2014 11:28

well, with the secured pipeline and the latest contract win there is at least 15 months' revenue secured, and realistically bits and bobs mean we have enough business to maintain current level of turnover until 2016. I think there has been a lag when we weren't getting business, as the new management finished jobs won by the previous lot before their problems became apparent and yet were unable to win new work until they could show that the problems had been overcome. We are largely through that phase now and I think from mind 2015 we are going to see the results that show the turnaround is complete and the mettle of the current board. The weakness in the price of oil doesn't help though and I would like to see growth in the renewables side as well.

[mach100] 13/11/2014 10:17

I agree mf. It read like a profit warning to me. I had to read it twice to check whether it was good or bad. Up 1.22% but I suspect it will go backwards after today. On recent history might be worth trying to catch the bottom and selling if it rises 10%. 3 quid is a far distant memory.

[mad foetus] 13/11/2014 10:00

Yet again though they completely underplay the good news:

Performance for 2014 expected to be in line with our expectations, as disclosed following the timely delivery of the second Caspian Sea rig
-- Previous guidance for 2015 reiterated in light of recent contract win
...
Outlook
As announced on 21 October 2014, the timely delivery of the "Mercury" rig will have a material positive impact on the Group's performance for the year and this guidance remains unchanged.

Previous guidance was for an increase in profit that would be materially better if the Mercury was delivered on time. It was delivered on time, but because the company expected this the performance for 2014 is expressed to be "in line with expectations".

They could have expressed the good news much more positively.

[deanowls] 12/11/2014 18:49

Any rumours Adp or did your Chinese fortune cookie just tell you that?

[adp] 12/11/2014 18:11

Sell on news

[tipjunkie] 12/11/2014 13:19

that should come out in the ims deanowls

there was a nagging doubt I had from the presentation concerning lam actually providing finance to build rigs on order

[deanowls] 12/11/2014 13:16

I've taken a trading top up today, that's six rigs and five options announced this year. It will be interesting to know the contingency funds released for the rig just assembled.

[mad foetus] 12/11/2014 12:52

According to the last results, our H1 2014 turnover was $632m. So today's announcement is equivalent to over 3 month's turnover. I know the nature of the business is that contracts are completed and you need new business to stand still, but it is a big contract win. The previous news was of delivery of rigs in time to trigger a bonus payment that had been excluded from earlier results but would make a "material" improvement to our full year figures. There is a disconnect between the business and the share price: either there is something that we have not been told about the business (and given the history of the company and the new board that seems most unlikely) or, as others have said, this will at some point rerate sharply. Or be taken over.

[todismypal] 12/11/2014 12:43

Tip Interesting stuff indeed - thanks for that. I am still amazed that having announced new contract via an RNS the share price is restricted to a small rise of only 3p

[tipjunkie] 12/11/2014 12:01

she didn't last long in her last job either

P&O yesterday announced that finance director Joanne Curin was quitting the group, after less than two years in the job.

[tipjunkie] 12/11/2014 11:58

these cfo's didn't last long either



Further to the announcement made on 20th April 2011, Lamprell (ticker: LAM), a
leading provider of diversified engineering and contracting products and services to
the onshore and offshore oil & gas and renewables industry, is pleased to announce
that Mr. Jonathan Cooper has been appointed to the Board of Directors of the
Company as Chief Financial Officer with effect from 30th October 2011. Scott Doak
has stepped down from the Board with effect from 30th October 2011 and the
Company is pleased to announce that Scott has assumed the role of Integration and
Development Director with effect from the same date.

----------------------------
Lamprell (ticker: LAM), a leading provider of diversified engineering and contracting
services to the onshore and offshore oil & gas and renewable energy industries,
announces that the Group’s Chief Financial Officer, Frank Nelson, has informed the
Company of his intention to leave Lamprell to return to the UK for personal reasons

[tipjunkie] 12/11/2014 09:50

an enigma wrapped in a mystery, indeed!

[plunger2] 12/11/2014 09:32

I suspect the MMs are really hoping that worries persist re the CFO so they can accumulate for large order filling!

It's where the price is on 30/11/14, 31/3/15 and 31/8/15 that interests me.

If punters are still chasing wham/bam/thank you LAM! they could be disappointed.
This team look like they prefer slowly slowly catchee Lammy.

LOL !

[todismypal] 12/11/2014 09:29

yes indeed - but why is the question.

[srpactive] 12/11/2014 09:19

Ever thought lamprell did the moving on.

[todismypal] 12/11/2014 09:18

tip I wonder if there are still concerns re the sudden departure of the CFO - the reasons for which remain a mystery.

[addison17] 12/11/2014 09:17

Juicy news

[srpactive] 12/11/2014 09:12

Wrongly priced share price, just keep buying, 300p one day.

[tipjunkie] 12/11/2014 09:12

underwhelming response thus far - disappointing

something else lurking i fear

[todismypal] 12/11/2014 09:11

A quite amazing muted response to this excellent news - how very odd. share price up a mere 4p

[mad foetus] 12/11/2014 09:05

very good news, well done to the team.
not sure what more the board can do really, the last year has shown fantastic progress, just need the share price to reflect it, but that will come

[plunger2] 12/11/2014 09:00

Flying completely under the radar now.
With an excellent order book, multiple options and a sales driven approach to match the quality/reputation of LAM's work, one would imagine that they'll get some notice over the coming weeks.

IMS should be next week, based of past timing. ;-)

GLA DYOR