Hallin posts record results as oil & gas industry booms
Posted on 18.03.2008 - 10:00 EDT in GENERAL NEWS by Rons_ROV_Links
Hallin Marine has posted record preliminary results for the year ended 31 December 2007, with sales up by 67% to US$64.8 million (£32.2 million) and net profit after tax up by 158% to US$10 million).
The subsea solutions business said it had achieved strong market positions in South East Asia, China, the UK, the Gulf of Mexico and India. Typically the projects undertaken comprise the surveying, maintaining, repairing or installing of subsea equipment for the oil and gas industry.
Tony Ebel, the company's chairman, 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 & 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."