Hallin Marine beats forecast with record results for 2008
Company News - March 17, 2009
Hallin Marine has announced record preliminary results in respect of the year ended 31 December 2008, well ahead of analysts’ forecasts.
Hallin has strong market positions in South East Asia, China, the UK, the Gulf of Mexico and India. Typically, projects undertaken comprise engineering design and analysis and the surveying, maintaining, repairing or installing of subsea equipment for the oil and gas industry.
Highlights included:
• Turnover and dividend doubled, net profit and earnings per share trebled.
• Turnover increased 116.0 per cent to US$139.9 million.
• EBITDA increased 177.8 per cent to US$41.2 million.
• Net profit after tax increased 213.4 per cent to US$31.5 million.
• Earnings per share increased 209.3 per cent to 77.61 cents.
• Dividend increased 100 per cent to 2p per share.
• Major increase in operating assets.
Tony Ebel, Chairman of Hallin Marine, said: “In the year in which Hallin celebrated its tenth anniversary we are pleased to report outstanding performance throughout the Group. We continue to feel very positive about Hallin’s ability to weather the uncertainties of 2009 and to continue its history of growth.”
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