UPDATE 1-Wellstream says H1 trading in line

Thu Jul 2, 2009 7:34am BST
 
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* More than 90 pct of 2009 revenue secure

* Strong first-half operational performance

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LONDON, July 2 (Reuters) - Oil services group Wellstream Holdings Plc (WSML.L) said on Thursday it traded broadly in line with its expectations in the six months to end-June.

The maker of pipes for oil drillers said its order backlog remained in excess of 220 million pounds ($362 million), securing more than 90 percent of 2009's anticipated revenue.

The group said it was performing strongly operationally, with good progress on BHP Billiton's (BLT.AX) (BLT.L) Pyrenees project and Seastream's offshore installation work expected to be completed before year end.

Wellstream reports results for the first half on Aug. 20.

(Reporting by Paul Sandle; Editing by Julie Crust)

($1=.6082 Pound)

 

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