Lamprell (LAM.L) said it now expects loss at the half year to be approximately $45 million, as a result of additional costs arising from the delayed deliveries of the Windcarrier 1 and 2 projects.
As a result of these anticipated first half losses, Lamprell will be seeking waivers from certain of its banks in relation to its banking covenants.
Further, the company said that an extension to the timeframe for achieving direct overhead and corporate cost savings that were previously anticipated would impact the full year result.
Revenue for 2012 is still anticipated to be approximately $1.1 billion, while the company now anticipates a loss for the year in the range of $12 million - $17 million.
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