"
This division combines Programmed’s Resources division, which has been primarily marine-related, and Skilled’s marine businesses (formerly Skilled Maritime, Skilled Offshore, Broadsword and OMSA).
The Marine division provides a range of workforce, maintenance, construction support and operational services to the offshore oil and gas and marine services sectors. A number of major offshore projects were completed in the second half and the business has been significantly downsized to suit the lower activity forecast over the next year arising from the steep decline in oil and gas prices.
The vessels owned by Broadsword were sold for $25 million and its business has been treated as a discontinued operation, with its revenue and earnings excluded from the company’s FY16 results from continuing operations"
rgds
Value_Hunter
MRM Price at posting:
42.5¢ Sentiment: None Disclosure: Not Held