RNS Number : 9539U
Wellstream Holdings PLC
02 July 2009
WELLSTREAM HOLDINGS PLC
Wellstream Holdings PLC, a leading designer and manufacturer of flexible risers and flowlines for the oil and gas industry, issues the following pre-close trading update ahead of announcing its results for the Half Year ended 30 June 2009 on 20 August 2009.
The Board is pleased to report that the Company has delivered strong operational performance since our last trading statement. Our order backlog remains in excess of £220m securing over 90% of 2009's anticipated revenues.
The Pyrenees project for BHP Billiton is progressing well, with final pipe deliveries complete, and Seastream's offshore installation work is expected to be completed before year end.
Overall, trading remains broadly in line with the Board's expectations.
For further information, contact:
Wellstream Holdings PLC +44 (0) 191 295 9000
Gordon Chapman, Chief Executive
Chris Gill, Finance Director
Jason Nunn, Investor Relations
Tulchan Communications +44 (0) 20 7353 4200
Notes to Editors:
Wellstream refers to Wellstream Holdings PLC (FTSE:WSM) and its subsidiary Wellstream International Ltd. The company is a leading independent designer and manufacturer of high quality bespoke flexible pipeline products, systems and solutions for fluid transportation. Its pipeline portfolio includes established product lines such as dynamic flexible risers and static flowlines, for deep and ultra-deepwater environments, in addition to newer products designed for onshore (FlexSteelTM) and high temperature/high pressure products for drilling and service applications. With over 1000 employees, Wellstream has offices/facilities in the UK, Brazil, USA, Canada, and Australia. Further information regarding Wellstream and its products and services can be accessed at www.wellstream.com
This information is provided by RNS
The company news service from the London Stock Exchange