Kenmare - Steady production and solid markets

Davy Research
/Read Important Disclosures

A solid production performance in Q1 makes for a good start to the year. Although shipping and final sales were significantly affected by adverse sea conditions and unscheduled maintenance, management is confident that this is a timing issue and that shipments will gradually be made up through the remainder of the year. Encouragingly, guidance for the year across all the headline metrics is maintained. Management also comments that product markets are steady and will likely strengthen into the year.