Jutal Offshore Oil Services (03303) said it expects to record a decline of about 50% in the consolidated net profit attributable to the owners for the twelve months ended 31 December 2014 as compared with that for the corresponding year of 2013.
Such expected decline was mainly due to reduction in gross profit due to gross margin decline caused by extension of construction period of certain large projects; and decline of share of profit from the associate company, Penglai Jutal Offshore Engineering Heavy Industry Co., Ltd., because of the reduction of overall workload in 2014 than that in 2013 due to delay of some large projects.
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