Updates

Gulf Marine Services - Second upgrade in quick succession

April 2024

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

The shares again challenged their highs after Gulf Marine announced another upward revision to its 2024 EBITDA guidance, which is now anticipated to be in the range of US$92m to US$100m, rather than the previous range of US$87m-US$95m. It also ended 2023 with net debt of just US$268m versus US$406m in 2020. This has been driven by improved trading with Gulf Marine announcing a contract extension and new letter of award. As a result, its backlog has now reached US$373m or 2.45x revenues, offering improved visibility moving forward. Zeus has upgraded EBITDA for FY24 by 5% to US$98.8m with eps raised 11% to 4.1 cents (3.2p), which drops the prospective PE to just 5.6. Gain to date: 41%. I am holding for more. ...

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H&T

Dunelm

Gulf Marine Services - Another upgrade to guidance (December 2024)

Gulf Marine Services - Pull-back provides second bite of the cherry (November 2024)

Gulf Marine Services - January write-up has gained 76% (May 2024)

Gulf Marine Services - Gain in 2 months: 38% (March 2024)

Gulf Marine Services - New contracts drive chart break-out (February 2024)

Gulf Marine Services - Middle East lift boat provider enjoys two upgrades (January 2024)

Gulf Marine Services - Oil & gas asset leasing group makes encouraging debut (May 2014)

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