Onshore News: Hallin's beats forecasts with 2008 record results
Posted on 07.04.2009 - 14:00 EDT in GENERAL NEWS by Rons_ROV_Links
Hallin Marine, the provider of subsea solutions to the oil and gas industry, announces 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 the projects undertaken comprise engineering design and analysis and the surveying, maintaining, repairing or installing of subsea equipment for the oil and gas industry. Highlights
• Turnover and Dividend doubled, Net Profit and Earnings Per Share trebled
• Turnover increased 116.0% to US$139.9m
• EBITDA increased 177.8% to US$41.2m
• Net Profit after tax increased 213.4% to US$31.5m
• Earnings per share increased 209.3% to 77.61 cents
• Dividend increased 100% 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."