Lamprell back in the black in 2013

Rig maker Lamprell’s shares soared almost ten per cent yesterday, after the London-listed firm said that it expects 2013’s performance to be ahead of its previous expectations. The group’s net cash position at the end of December 2013 was around $180m (£110m), “significantly ahead” of its previous forecasts. “2013 has proven to be an important year for Lamprell with the business returning to profitability,” said chief executive Jim Moffat.