TGS: Stays positive after profit cut




Offshore vessel charterer TGS-Nopec Geophysical is looking ahead optimistically despite a weaker second quarter.

The seismic survey company said net earnings to 30 June were $9.6m, from $16.8m in 2016.

Revenue dipped to $107.67m, versus $114.36m in 2016.

But it pointed to a strong cash flow resulting in a cash balance of $239m.

It also sees an increased backlog and record-high survey acquisition activity for the third quarter.

The company had two 2D vessels, two multibeam units, a seafloor-sampling ship.


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