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PVS - Margin squeeze on Seismic Survey and Mechanics & Construction segments, losses from associate, hurt earnings - Earnings Flash

PVS’s 9M 2016 revenue and NPAT dropped 28% and 35% YoY, respectively, mainly due to the poor performance of the Seismic Survey and Mechanics & Construction segments as well as losses from an associate. However, this is broadly in line with our expectation as NPAT completed 74% of our full year forecast.