MedservRegis plc - Interim Report

On 14 November, Medserv plc issued its Interim Directors’ Statement covering the third quarter of 2012. Medserv reported that during the three months ended 30 September, the Group’s performance continued to be depressed as projects which were expected to start during the quarter were postponed to the last three months of 2012.

In the meantime, the Group provided  substantial maintenance work to offshore platforms as well as other support to offshore activities comprising a number of port calls from oil and gas vessels. Moreover, Medserv is also handling equipment and tubulars in preparation for major offshore operations scheduled to start in the first quarter of 2013.

Preparations are also ongoing for the construction of the base in the port of Limassol in Cyprus. The Cypriot base will service oil companies exploring offshore Cyprus now that its Government has awarded licences for exploration.