The Financial reporting season is soon coming to a close with most of the big boys finishing their reporting. On thurs and Fri, we saw some of the shipping companies posting their results.
NOL Q2 earnings edge up 6%
Singapore, 11 August 2005: - Global transportation and logistics company, Neptune Orient Lines (NOL), today reported net profits1 of US$392 million for the first half (1H) of 2005, an 11% year-on-year (YoY) increase. NOL achieved a second quarter (2Q) net profit of US$196 million.
Revenues in the 1H rose 16% YoY to US$3.5 billion, with both the Liner and
Logistics businesses registering revenue improvement. Core Earnings Before
Interest Expense, Tax and Non-Recurring Items (EBIT) in the 1H reached US$426 million, a 10% increase over the same period last year.
Labroy MarineÂ’s 1HFY2005 Net Profit Jumps 59% Y-O-Y to S$27.5 million
- Turnover Up 23% at S$219.60m on Increased Shipbuilding Orders
- Record Interim Net Profit on Higher Shipbuilding Margins
- Better Shipping Freight Rates in Coal and Offshore Sectors
STELLAR RECORD-BREAKING YEAR FOR CHUAN HUP IN FY2005
- Turnover rose 5.9% to US$107.6 million from US$101.6 million in FY2004
- Net profit after tax and minority interests grew 56.2% to US$58.2 million from US$37.3 million in the previous year
- Earnings per share (EPS) on a fully diluted basis grew to 5.35 US cents this year compared to 3.43 US cents previously
- 100% increase in dividend over FY2004. Total tax-exempt dividend of 6 Singapore cents per share for FY2005.
AirOcean Q1 profit soars on revamp
Â• AIROCEAN GROUP LIMITED POSTS 99.1% GROWTH IN NET PROFIT OF $1.29 MILLION ON A TURNOVER OF S$115.9 MILLION
Â• Gross Margin grew to 12%
Â• Express Courier recorded a turnover of S$4.0 million
Â• Group expects to enjoy increased synergies and economies of scale
Â• Demand for logistics services in China continue to grow
Recently listed STX Pan Ocean reported last weekend that its half-time profits had risen 21 per cent to US$192.1 million as strong demand for dry bulk shipments boosted sales by 34 per cent to US$1.5 billion.
Singapore Shipping Corp unveiled a five-fold surge in its first-quarter net profit to $45.7 million from $7.4 million previously, buoyed by one-off gains from the sale of several vessels. The shipping group recorded a total gain of about $65 million, but recognised only $41.3 million of it in the first quarter.
Samudera Shipping, meanwhile, saw its second-quarter earnings rise more than four-fold to $23.2 million, from $5.6 million as topline revenue grew 27.4 per cent to $173.4 million. This raised its first half-earnings to end-June by more than four-fold to $44.5 million.
Shipping group Cosco Corporation (Singapore) more than doubled its second-quarter and first-half net profits. The company's Q2 net profit soared 108 per cent year-on-year to a record $39.4 million, while H1 earnings jumped 115 per cent to $65.2 million.
Fantastic results from the shipping sector.
But is the industry peaking or is there room for more growth in the engine?