On 14 May Medserv plc issued its Interim Directors’ Statement explaining that during the first quarter of 2009, the Group maintained a satisfactory level of activity despite the significant drop in the price of oil. Moreover the Group’s operations are forecasted to be maintained and increased during this year. The Directors stated that Medserv continued to upgrade its Malta and Libya bases which include an investment in their storage facilities and plant capacity to meet operational demand as indications of increased exploration offshore Libya remains strong.
Medserv announced that it has confirmed a number of new clients with the most noteworthy business being the appointment of the Misurata base in Libya to provide logistical support to one of the largest global oil and gas companies. The Group stated that work related to this client should commence in the first quarter of 2010.
The Directors concluded by remarking that the first quarter results show that the Medserv Group achieved a profit figure in line with expectations which is also at similar levels to those registered during the same period last year.