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

Navigation

General Dynamics gets $25 mi GPS Contract from Lockheed Martin

General Dynamics Advanced Information Systems, a business unit of General Dynamics, was awarded a $25.4 million full-production contract from Lockheed Martin to support the U.

Raytheon Anschütz Debuts ShipGuard at SMM

In view of an increasing demand for security of merchant ships and maritime trade, Raytheon Anschütz, a German-based manufacturer of Integrated Bridge Systems,

House Subcommittee Hearing Highlights “Dismal State” of U.S. Icebreaking Capability

At the July 23, 2014, hearing of the House Subcommittee on Coast Guard and Maritime Transportation on “Implementing U.S. Policy in the Arctic” the committee chairman, Rep.

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Offshore Oil Pipelines Port Authority Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.0976 sec (10 req/sec)