The London-listed engineering group posted a loss before income tax and before exceptional items of $105 million compared to its 2011 profit of $74 million. Total revenue also fell 8.9% to 1.05 billion.
Lamprell’s profits were hit by cost overruns last year as a result of delivery delays on a pair of windcarrier units and the Caspian Sea jack-up project. In October, it made the decision to replace its entire senior management team.
The
