Mermaid Marine takes hole in hull

Mermaid Marine suffered its worst sell off in over a decade after revealing disappointing first-half earnings and issuing a warning that full-year earnings would fall far short of consensus expectations.

Marine engineering group Mermaid Marine (MRM) suffered its worst sell off in over a decade after revealing disappointing first-half earnings issuing a warning that full-year earnings would fall far short of consensus expectations.

The stock sank 13.1% to a 13-month low of $3.06 in early trade after management said that a number of key projects and drilling operations have been delayed.

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