ROVworld Subsea Information

High demand in subsea sector lifts Hallin
Date: Tuesday, September 19, 2006 @ 11:34:53 EDT

High demand in subsea sector lifts HallinHallin Marine Subsea International said yesterday the current year had been pivotal to the company, which was now well placed to take advantage of profitable opportunities.

The group, whose Hallin Marine UK remotely operated vehicle subsidiary is based in Aberdeen, said it was confident of winning business for both its saturation-diving systems and ROVs. Chief executive John Giddens said: "We have positioned the company, by growing its assets of key staff and subsea equipment, to be able to take advantage of strong global demand for subsea services."

It said the number of inquiries and tenders being submitted for future contracts was more than twice that at the same point in 2005. Mr Giddens added: "The market is therefore extremely buoyant and strongly favours those companies with available equipment."

The group reported pre-tax profits of £1.54million for the six months to June 30 against profits of £464,700 a year earlier. Revenue for the period was £6.98million, down slightly on last year's £7.25million.

September 19, 2006

This Is North Scotland

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