July 21 (Reuters)– French distributor of systems for aquatic transport of melted gas (LNG) Gaztransport & & Technigaz (GTT) reported solid development in its first-half outcomes on Thursday however reduced its 2016 income expectation, criticizing hold-ups in the building of some ships.

The business, which provides innovations made use of to keep LNG at extremely reduced temperature levels throughout delivery, stated it currently anticipated full-year income of around 240 million euros ($ 264.14 million), below its previous advice of over 250 million euros.

“Given the time lag in the construction milestones of some vessels and the current level of new orders, we now anticipate that a portion of the expected revenues will be carried over from 2016 to subsequent years,” Chairman and Chief Executive Officer Philippe Berterottiere stated in a declaration.

GTT validated the various other aspects of its advice, particularly a 2016 web margin over 50 pct and a returns quantity, for 2016 and 2017, at the very least equal to that spent for 2015.

Commenting on the LNG market throughout a telephone call with reporters, Chief Financial Officer Cecile Arson stated, “We observe a bit of a ‘wait and see’ attitude among a variety of players in the LNG chain, at the same time among gas companies who will be at the origin of LNG projects …and, further down stream, shipowners.”

The business reported an 11.4 percent development in income and an 11.8 percent development in core revenue (EBITDA) for the very first fifty percent of 2016. ($ 1 = 0.9086 euros) (Reporting by Alan Charlish inGdynia Editing by Jane Merriman and David Evans)

( c) Copyright Thomson Reuters 2016.