Gulf Marine Services has seen its net profit decline after a first half mixed with fresh deals and contract terminations.
The Dubai-based company reported net earnings of $27.8m, which was 21% lower compared to the same period of last year.
Excluding an impairment charge of $14.2m for two anchor handlers and an accommodation barge, adjusted net profit was $41.9m, against $35m.
Duncan Anderson, chief executive of GMS, told TradeWinds: “The general feeling after the first half is that we had a very good six-month period and we are cautiously optimistic going into 2017.
“We
