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Gulf Marine Services PLC (LSE:GMS) has announced that its appeal against a tax assessment from the Saudi Zakat, Tax and Customs Authority has been rejected, with no further appeals permitted. Although the decision may delay the company’s target leverage ratio, GMS has confirmed it is maintaining its EBITDA guidance for 2025 and 2026. The company had already made provisions for this potential outcome, and the financial impact will be reflected in its upcoming financial statements. Despite this setback, Gulf Marine Services remains focused on its operational performance and financial objectives.
Outlook and Financial Position
Gulf Marine Services maintains a solid outlook, underpinned by strong financial performance, favorable valuation metrics, and positive corporate developments. The company’s strategic focus on growth, combined with stable technical indicators, supports a positive view of its prospects. The stock appears undervalued, offering potential for upside in the long term.
About Gulf Marine Services
Founded in Abu Dhabi in 1977 and listed on the London Stock Exchange, Gulf Marine Services PLC is a leading provider of self-propelled, self-elevating support vessels (SESVs) for the offshore energy industries. With a fleet of 14 SESVs, GMS operates in the UAE, Saudi Arabia, and Qatar, offering support for offshore activities like platform maintenance, wind turbine installation, and more, across various global regions.
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Average Trading Volume: 2,547,269 shares
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Technical Sentiment Indicator: Strong Buy
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Market Capitalization: £203.4 million
