September 11, 2019 / 6:54 AM / 3 months ago

Gulf Marine Services delays results as talks with lender continue

Sept 11 (Reuters) - Shares in Gulf Marine Services were expected to fall about 10% in early trading on Wednesday after the oilfield industry contractor said the publication of its first-half results would be delayed.

Gulf Marine, which was expected to report results on Wednesday, said the delay in finalising its accounts was because of the ongoing talks with a lender about continued access to one of its working capital facilities, which provides short-term liquidity.

The Abu Dhabi-based offshore services specialist’s chief executive officer resigned last month after it warned a reassessment of its ships and contracts showed profit would fall this year.

Reporting by Noor Zainab Hussain in Bengaluru; editing by Arun Koyyur

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