Fugro's Q3 an 'overall disappointment,' shares slump
28/10/2021 08:44
** Shares in Dutch deep-sea energy prospector Fugro
FUGR.AS drop almost 11% after a mixed and overall
disappointing set of Q3 results
** Fugro's Q3 revenue rose a "modest" 3.7% to 378 million
euros ($438 million), it said, at the same time confirming its
FY guidance urn:newsml:reuters.com:*:nFWN2RO0E2
** "The typically busy 3Q only led to a modest 3.7% revenue
increase, below our expectations," KBC says
** "Overall, 3Q21 is a miss," ING says, adding Q3 results
disappoint with EBITA margin under pressure
** "The main reason for this was related to COVID-19,
causing extra costs and delays and missing revenues at around
5%" - ING
** The stock is heading for its worst day in a bit over a
year, with share price touching Aug. 2021 lows
($1 = 0.8623 euros)
(Reporting by Piotr Lipinski in Gdansk)
((piotr.lipinski@tr.com))