LONDON (ShareCast) - Hallin Marine, a maker of underwater equipment for the oil and gas industries, said the more competitive trading environment is likely to result in a reduction in margins at the half year stage.
The expected fall in
margins comes in spite of higher predicted revenues and will continue into the second half of 2009, the company believes.
The industry slowdown is the result of the delays and postponements to projects amid concerns over the price of oil and gas and difficulties raising project finance, the firm said.
Hallin said it continues to win new work and remains confident that it is well positioned to exploit opportunities to take advantage of the opportunities that occur as the oil and gas industry recovers from the current downturn.
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