CMB Reports Q2 Results

Friday, July 25, 2008

Belgian shipping group CMB reported a 144 percent rise in second-quarter net profit, and said prospects for the rest of the year were healthy.
The dry bulk specialist said in a statement that net profit totaled $211.2m in the second quarter. The firm, which reported a small loss in the first quarter, said its full first half result was 133.4 million euros, down from 148.2 million euros in the same period of last year.
The company confirmed it would propose a gross interim dividend of 1.0 euro a share to the board of directors, who meet on Aug. 26.
CMB said its Bocimar unit had contributed 139 million euros to the consolidated result for the first half of 2008, compared with 146 million euros in the first half of last year.
It said the result benefited from the sale of vessels for a capital gain of 99 million euros, up from 89 million euros in the first half of 2007.

Source:  Reuters

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