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 February 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Navigation

Elcome Enters Sales, Service Deal with JRC

Elcome International has signed a distribution agreement with Japan Radio Company (JRC) and its technology partner Alphatron Marine.   Under the agreement, the

Record Thames Ridership

A record 9.8 million passengers are using the River Thames‎, two years on from the launch of the Mayor's River Action Plan, it was announced today. The River Action Plan,

Italy to Begin Naval Exercises off Libya

Italy will begin annual naval exercises this week near the coast of Libya, where a breakdown in order has allowed tens of thousands of migrants to try to reach

Coatings & Corrosion

Editorial: Gettin’ Crabby with Deadliest Catch

As February is our traditional cruise shipping edition, naturally we’ve selected a fishing boat and two crabs for the cover. But as many of you may already know,

Tall Ship Docked for Repairs

The largest brig to be built in the U.K. in a century sailed into in a Greenock dry dock yesterday for general maintenance and essential winter repairs.   The

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Navigation Pipelines Salvage Ship Electronics Ship Simulators 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: 0.1061 sec (9 req/sec)