Lamprell doubles profit warning

Sign of the times: Lamprell posts deeper profit warning of $45 million

Fred. Olsen Windcarrier

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Bill Lehane

 26 July 2012 08:34 GMT

London-listed fabricator's shares tumble 40% after forecasting $45m half-year loss

Fabricator Lamprell has warned its first-half loss will be more than double previously forecasted as delayed deliveries add to its financial woes, and warned of a full-year loss for the first time.

The Isle of Man-registered, Sharjah-based engineering specialists said that after a further financial review it it expected first half losses of around $45 million, having previously warned it would go into the red to the tune of between $15 and $20 million.

The market reaction has been swift, with shares in the company down 39.5% to £0.74 in London on Thursday morning.

Last month, financial analysts warned…

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