Lamprell slumps to $105m loss

Rig maker Lamprell yesterday counted the cost of a difficult year as it slumped to a pre-tax loss of $105m (£69m). The annual loss marked a fall from a profit of $74m in 2011 on lower revenues of $1.04bn over the year, the company said. The downbeat statement comes just days after Lamprell was fined £2.4m for failing to keep the market fully informed of its deteriorating financial position last year.