Medserv - Strong year in progress
Edison update report.
OCTG inspection repair and storage - Medserv Energy
total tubular management - Medserv Energy
With a strong revenue and profit contribution from the Suriname contract, H119 group performance was excellent. The timing of the project should mean there is a stronger H219 performance, although FY20 group revenue prospects are impaired by the anticipated end to activity early in the year. Existing prospects in Cyprus, Egypt and elsewhere support our FY20 estimates and should be augmented by several major new projects that could be captured in the coming months for both the ILSS and OCTG divisions. Medserv’s international expansion with an increasing number of IOCs is spreading the risk, and for the time being we expect the company to deliver progressively improving profitability and cash flows.
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