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 August 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

Seagull Maritime Response on Safety, Security

Key areas of concern for seafarer safety and security in both marine and offshore operations have triggered the release of six new and one supplementary titles

FPSO Petrojarl Knarr Delivered to Norway

Three tugs of Fairmount Marine have towed the brand new FPSO Petrojarl Knarr from South Korea to Norway in just 61 days. Petrojarl Knarr, one of world’s largest

New e-Navigation Technologies from Transas

Transas Marine introduced new software solutions for voyage planning and fleet management at SMM 2014 as a step towards becoming the forerunner in the development of e-Navigation technologies.

 
 
Maritime Security Maritime Standards Navigation Pipelines Salvage Ship Electronics Ship Repair Shipbuilding / Vessel Construction Sonar Winch
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: 0.3925 sec (3 req/sec)