Gulf Marine Services (LON:GMS) – like its vessels, its share are now ready to lift-up

23.07.2025

This Abu Dhabi-based company is a leading provider of advanced self-propelled, self-elevating support vessels serving the offshore, oil, gas and renewable industries.

In June and July, the shares of this £230m capitalised group have traded across a fairly narrow band from 18.44p to 21.95p.

The average volumes over the last year have been nearly 2.3m shares traded daily, some days at the start of this year saw over 31m shares changing hands.

That aberration against the averages is believed to be down to one major holder placing off its position to its own shareholders.

Those hectic numbers have recently fallen closer to a real recent average of some 700,000 to 900,000 shares dealt.

However, this is another situation that my gut suggests could be firming up again shortly.

Within the next six weeks or so I would expect to see the company announcing its Interim Results covering the six months to end-June.

The early-May statement of its Q1 results showed a 14% uplift in revenues, while its adjusted EBITDA was 21% better, and encouragingly its net debt was 27% lower.

Chief Financial Officer Alex Aclimandos stated that:

"We are pleased to report that GMS has maintained strong momentum into 2025, building on the operational and financial achievements of last year.

Looking ahead, we remain committed to providing a resilient capital structure, proactively managing risks and advancing our shareholder rewards program, all while positioning the Group to capitalise on market opportunities.

We are confident in our ability to deliver sustainable, profitable growth as we move forward into the remainder of the year."

I am hopeful that the first-half results will display a continuation of the Q1 trends.

Just over a year ago the group’s shares were trading at 24.60p, that is a level that I feel could be so easily achieved again on the back of good corporate news.

I would not discourage new buyers from doing so, especially with them now trading at just 19.76p.

(Profile 30.11.23 @ 13p set a Target Price of 16p*)

(Profile 22.01.24 @ 15.95p set a Target Price of 19.50p*)