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Gulf Marine Services profit rises on strong demand for barges

Reuters - UK Focus

March 24 (Reuters) - Gulf Marine Services Plc posted a 9 percent rise in full-year profit, helped by strong demand for its jackup barges.

The oilfield services company, which builds and operates self-propelled, self-elevating jackup barges for the oil and gas industry, said net profit rose to $75.6 million from $69.4 million a year earlier.

Revenue for the year ended Dec. 31 rose 7 percent to $196.6 million. (Reporting by Abhiram Nandakumar in Bengaluru; Editing by Gopakumar Warrier)