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Wellstream trading remains in line with expectations

2nd Jul 2009, 8:46 am Wellstream trading remains in line with expectations

Wellstream Holdings PLC (LSE: WSM) said it has delivered strong operational performance since its last trading statement in May, adding trading remains broadly in line with the board's expectations.

In a pre-close trading update ahead of reporting results for the first half to end-June 2009, it said the order backlog remains in excess of £220 million securing over 90 percent of 2009's anticipated revenues.

The designer and manufacturer of flexible risers and flowlines for the oil and gas industry added the Pyrenees project for BHP Billiton (LSE: BLT; NYSE, ASX: BHP)  is progressing well, with final pipe deliveries complete, and Seastream's offshore installation work is expected to be completed before year-end. Seastream is the group’s joint venture with Sea Trucks Group.

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