Thalassa Holdings Limited Announcement of Results for y/e 31 December 2014 (7162H)
18 Março 2015 - 4:01AM
UK Regulatory
TIDMTHAL
RNS Number : 7162H
Thalassa Holdings Limited
18 March 2015
Thalassa Holdings Ltd
(Reuters: THAL.L, Bloomberg: THAL:LN)
("Thalassa" or "the Company")
Announcement of Results for the Year ended 31 December 2014
In light of the continuing pressure on oil prices globally, the
Company, in common with the industry and in accordance with prudent
accounting principles, is conducting a comprehensive and cautious
review of the carrying value of its assets. It has also implemented
a cost savings programme within its core business to reflect the
current conditions in the industry.
Notwithstanding this review, the Company continues to benefit
from a strong cash position, US$16.4 million (including US$2.2
million which is restricted) as at 16 March 2015, and a good level
of continuing order enquiries. The Board is pleased to report that
the Company has made its first two data sales in 2015 generating
US$1.6 million gross or US$1.4 million net of agent commission
relating to the 23(rd) Norwegian licence round first announced on 5
March 2014.
Whilst the overall trading environment remains extremely
challenging, the Board is confident that the Company is well
positioned to benefit from a recovery in industry activity. The
Board anticipates that, based on its current book of contracted
business, Thalassa will break even in the year ending 31 December
2015 and that, following conversion of some of the opportunities
referred to above into contracted orders, would meet current market
expectations of pre-tax profit of US$1 million on revenue of US$18
million.
In light of the above, the Board expects that Thalassa's results
for the year ended 31 December 2014 will be announced in early June
2015.
Investor Enquiries:
Thalassa Holdings Ltd
Duncan Soukup, Chairman +33 (0)6 78 63 26 89
WH Ireland Limited (Nominated Adviser and Broker)
Chris Fielding, Head of Corporate Finance +44 (0)207 220 1650
Press Enquiries:
Square1 Consulting (Public Relations)
David Bick/Mark Longson +44 (0)207 929 5599
www.thalassaholdingsltd.com
Notes to Editor:
Thalassa Holdings Ltd, incorporated and registered in the BVI
and quoted on AIM, is a holding company with subsidiaries in the
Energy Services and Defence and Homeland Security Industries, with
a focus on marine seismic operations.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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