The Sharjah-headquartered company is chasing US contractor Cameron over the faulty equipment on the jack-up Ensco 140, which was eventually delivered to its owner, uncontracted, on 26 August.
The settlement with Ensco is chopping $25 million off the expected full-year top line and a further $10 million off the bottom line at the yard.
"Lamprell is committed to delivering all projects on time and the management is extremely disappointed by the impact of the Cameron equipment's failure on our excellent track record," it said in Thursday's first-half results announcement, which showed a small loss as against a profit a year earlier, despite revenues rising.
"The
