European Regional Development Fund

Drop in Revenues H1 2016 vs H1 2015

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  • Grech293 (10 months ago)

    Drop in Revenues H1 2016 vs H1 2015
    The reduction is mainly due to a slow-down in the provision of shore base logistics as a result of exploratory drilling activity in Cyprus being put on hold. This decrease was not supplemented to the same extent by revenue from the recent acquisition of the Middle East Tubular Service group (METS) which
    reporting period only includes four months of revenue. Also revenue from shore base logistics in Portugal
    was minimal.
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