GMS reports profit, eyes better days
- Date: 13-Oct-2021
- Source: Energy Voice
- Sector:Financial Markets
- Country:Gulf
GMS reports profit, eyes better days
Gulf Marine Services (GMS) expects day rates to improve in the second half of the year driving EBITDA higher.
Revenues reached $51.4 million in the first half of 2021, up from $49.8mn year on year. G&A expenses were down to $4.9mn, from $6.6mn, while EBITDA increased to $26.5mn, from $22.9mn.
The company has forecast full-year EBITDA to reach $63-67mn. This suggests the second half of the year will provide around twice the amount recorded in the first half.