VT Closes in on Military Contracts

Wednesday, November 14, 2007
VT Group is closing in on two significant military service contracts and hopes to become preferred bidder on a waste management private finance bid in Wakefield that it said could double its order book by the end of the financial year in March. By the end of September, the group, which is focused on shipbuilding and defense services group, had lifted its order book by $413.6m to $7.66b compared with the interim period last year, thanks to a $310.1m shipbuilding deal for Trinidad and Tobago and regular contracts of up to $103.4m. Mike Murphy, analyst at Panmure Gordon, reportedly said the two military deals – covering flight training and air tanker services – would take the group’s order book to at least $10.3b by the end of the year. In the six months to the end of September, pre-tax profits including intangibles rose 31 per cent to $70.7m on revenue that rose 23 per cent to $1.2b. Following the spin-off, the group plans to focus exclusively on higher margin engineering-based services. [Source: The Financial Times Limited]
Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Contracts

US Navy Awards $22mln Waterfront Inspection Deal

The U.S. Navy has awarded a five-year, $22 million contract to Appledore Marine Engineering, a specialist focusing exclusively on the inspection and design of marine infrastructure,

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Rolls-Royce to Design, Equip Canadian Stern Trawler

The shipbuilding company VARD Group AS in Norway has received an order from a Canadian company for a shrimp stern trawler to be designed and equipped by Rolls-Royce,

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | 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: 0.3099 sec (3 req/sec)