Gulf Marine Services Reports Strong Financial Growth

Gulf Marine Services (GB:GMS) has released an update.

Gulf Marine Services has reported a notable financial performance for the first nine months of 2024, with revenue climbing 11% to $126.1 million and adjusted EBITDA increasing by 12% to $76.1 million. The company has successfully reduced its net debt by 21%, reflecting a robust deleveraging strategy, while also securing a significant backlog increase to $505 million by October 2024. This strong financial footing and strategic progress position GMS well for future growth in the offshore oil, gas, and renewables sectors.

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