Neptune Marine Services (NMS)
Oil and gas services company Neptune Marine Services stretched its losing streak to 10 sessions as the share price fell 1¢ to 37¢ on Wednesday. Shares in Neptune Marine have been loveless since April 13, creeping down 8.5¢, or 18.7 per cent, despite announcing an increase to its forward order book last week. Neptune Marine said it had been contracted to provide diving support and equipment on the Gorgon Project in WA and a further $12 million of new works. Major shareholder Amcom Capital reduced its holding to 7.01 per cent from 8.48 per cent, with $1.6 million of shares sold. Last month, Neptune Marine reported a net loss of $296,000 for the half-year ended December 2009, but pointed to a strong outlook. Revenue from ordinary activities was down 11 per cent and it reported a net operating cash outflow of $608,000 compared with an inflow of $6.4 million in the corresponding period.
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