Gulf Marine Services (GMS) has seen its profit for 2016 slide but remains optimistic thanks to increasing tender activity in its core operating regions.
The Abu Dhabi-based company reported annual earnings of $29.4m, down from $75m in 2015 as it took an impairment charge of $21.3m on non-core assets and a leased vessel.
Its revenue sat at $179.4m, against $219.7m a year earlier, while adjusted EBITDA declined from $138.5m
