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Rig builder Lamprell sees 2016 revenue below market expectations

Sept 22 Oil-rig builder Lamprell Plc said it expected full-year revenue to be slightly below analysts' estimates, hurt by the deduction of $25 million from the final payment made by Ensco Plc due to late delivery of a rig.

The company said it expected revenue for 2017 in the range of $400 million to $500 million.

The company, which runs three rig building yards in the UAE, said revenue rose 28.4 percent to $451.3 million for the six months ended June 30. (Reporting by Sanjeeban Sarkar and Pranav Kiran in Bengaluru; Editing by Amrutha Gayathri)

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