Thursday January 8, 08:02 AM
UPDATE 1-Wellstream sees growth in 2009 after good 2008
LONDON, Jan 8 (Reuters) - British oil and gas industry equipment supplier Wellstream Holdings (LSE: WSM.L - news) on Thursday said the
sector was still attractive despite falling oil prices as it forecast 2008 results in line with expectations and continued growth in 2009.
Wellstream, which designs and makes flexible risers and flowlines, said revenues in the year to Dec. 31 had grown more than 35 percent.
It said its sales backlog increased from 295 million pounds at June 30 last year to about 330 million pounds at Dec 31, although that was lower than the 336 million pound order book it had at the end of 2007.
'The fundamentals of the sector continue to be attractive and our outlook for 2009 remains one of continued growth,' the group said in a trading statement.
(Reporting by Philip Waller; editing by John Stonestreet) Keywords: WELLSTREAM/
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