Shares in oil rig manufacturer Lamprell (LSE: LAM) were up 3% in early trading on Monday following the announcement of its half-year earnings, but gave up those gains in the afternoon to close down 1.3% at 260.4p.

The company identified Iraq as a key target over the coming years.

In his Chairman’s Statement, Jonathan Silver said:

“In particular, the market in Iraq and other Middle East countries has been identified as the target for contract awards in the medium term“.