Hallin Marine announces record yearNews // March 12, 2008
Hallin Marine has announced record sales and profits for 2007. The Aim-quoted provider of subsea solutions to the oil and gas industry, issued a very positive set of preliminary results for the year ended December 31st 2007 and was very upbeat about the its future.
• Turnover increased 67 per cent to US$64.8 milion
• EBITDA increased 171.0 per cent to US$14.8 million
• Net Profit after tax increased 157.7 per cent to US$10 million
• Earnings per share increased 138.3 per cent to 25.09 cents
• Dividend maintained at 1p per share
• A major increase in operating assets.
Tony Ebel, Chairman of Hallin Marine, said: “With a highly successful 2007 now behind us Hallin is looking forward with confidence and optimism to 2008 and beyond. The strength of the subsea oil and gas market around the world will provide exciting opportunities for Hallin and the new operating assets we have coming into service over the next three years.”