Howard Smith Posts Flat Results

Tuesday, February 06, 2001
Hardware and towage group Howard Smith Ltd. pointed to a difficult market for its main hardware and industrial supplies businesses on Tuesday, after posting a flat half year result. Although recent data pointed to a housing recovery, actual spending on hardware was expected to lag housing approvals and a break in economic conditions was not expected until at least mid-year. "The outlook for the next four months is tough," managing director Ian Tsicalas told reporters after the group reported a net profit of A$54.10 million for the six months to December 31, 2000, up slightly on A$53.56 million a year ago. Tsicalas said Howard Smith could still meet earlier forecasts and beat its A$102.9 million 1999/00 full year net profit, saying the first half net profit increase was "sustainable". But the result would depend on a recovery in the housing market and better results for its BBC Hardware division which eked out an increase in sales of just one percent in the first half. Fending off speculation about the sale of its local towage division, Tsicalas said towage was a core asset, adding that he had no advance warning about comments from stevedoring group Lang Corp Ltd. that it wanted to buy the division. Australian towage earnings were expected to improve with savings from lower staff levels, while increased demand for U.K. towage services was also forecast in the second half as new port facilities were commissioned, he said.
Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Marine Propulsion

Incat Crowther Designs Commercial Security Vessel

Incat Crowther has received a contract to design an offshore commercial oilfield security vessel for Veecraft Marine and its client, UTM Dredging Ltd, the designer announced today.

SCHOTTEL to Present Inland Offerings

SCHOTTEL will present its expertise to the U.S. inland market at the upcoming Inland Marine Expo in St Louis, June 15-17, 2015: strong push boats in Brazil, big

MHI to Shift Operations from Yokohama Kanazawa

Mitsubishi Heavy Industries, Ltd. (MHI) and Mitsubishi Hitachi Power Systems, Ltd. (MHPS) have decided on a policy to transfer operations currently performed

Workboats

Apply Now for the MN 100

The August 2015 edition of Marine News, the leading voice in the North American workboat market, will feature 100 leaders and innovators, including workboat owners and operators,

Boatbuilding in China

While much of the focus on coverage of the Chinese shipbuilding industry is on big shipbuilding, Maritime Reporter switches gears this month to explore activities in select boatbuilding sectors.

Ingram Barge’s Sehrt Elected AWO Chairman

The members of the American Waterways Operators (AWO), the national trade association representing the tugboat, towboat and barge industry, elected a new slate

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Winch
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: 0.1163 sec (9 req/sec)