Jotun Reports Record Year

Friday, September 30, 2005
The Jotun Group will probably match last year's record results. At the end of the first 8 months of the year the Group's operating income totalled NOK NOK 4 619 million. Not only was this NOK 359 million up on the same period last year, but the operating income is equal to last year, despite unfavourable exchange rate developments and the continuing high price of raw materials. The performance is in line with last year, which was the best year ever recorded by Jotun. – We are satisfied with the strong organic growth in sales, both in volume and value, says CEO Knut Almestrand, also pointing out that the stronger NOK and the continuing high price of raw materials are contributing to the pressure on margins. At the end of August the operating profit was at NOK 476 million, an increase on last year's corresponding figure of NOK 468 million. Due to higher financial costs the pre-tax profit fell to NOK 450 million, down from NOK 464 million in 2004. In order to meet the increasing demand for Jotun's products, Jotun will continue to invest in new and existing production facilities. Group investments in the first 8 months of the year amounted to NOK 244 million, against NOK 132 million in the same period last year related to a number of projects for upgrading existing production facilities and the construction of new production units in China and Indonesia.
Maritime Reporter March 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

Scandlines Ferry Back in Service by End June

The damaged Scandlines ferry M/V Prinsesse Benedikte is being repaired at the Polish shipyard Remontowa and is expected to be ready before the end of June 2015.

US Navy to Roll out Underwater Spy Satellites

The robotic series that remade crusade in skies will shortly extend to a low sea, with underwater view “satellites,” drone-launching pods on a sea building and unmanned ships sport submarines,

China Unveils Action Plan on Maritime Silk Road

China has unveiled the principles, framework, and cooperation priorities and mechanisms in its Maritime Silk Road initiative in a bid to enhance regional connectivity

 
 
Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Ship Repair Sonar
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1493 sec (7 req/sec)