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

Marine Propulsion

Wärtsilä to Power LNG-fueled RoPax Ferry

A ferry being built for Sweden’s Rederi AB Gotland will be fueled by LNG, featuring a Wärtsilä integrated solution which includes a complete LNG powered propulsion- and fuel storage and supply system,

First Container for LNG Hybrid Barge

The HUMMEL (bumblebee) LNG Hybrid Barge will enable Becker Marine Systems to supply low-emission power to cruise ships lying at port in Hamburg. The first container

IntelliJet: Cleantech Propulsion for High Speed Applicatios

IntelliJet Marine, Inc. will present a paper on propulsion and computer simulation for sustainable high speed boats and ships at ASNE Day 2015.   Jeff Jordan

Workboats

Kirby Reports Record Earnings

Kirby Corporation announced record net earnings of $68.1 million, or $1.19 per share, for the fourth quarter 2014 (ended December 31). The results bested 2013’s fourth quarter figures of $64.

LEEVAC Launches First PSV for Tidewater

On Tuesday, January 27, LEEVAC Shipyards Jennings, LLC launched hull 367, a platform supply vessel (PSV) designed by LEEVAC Design Services, LLC (300 DE-52 HAB PSV).

USACE Barges, Tugs Up for Repair

The United States Army Corps of Engineers (USACE) Buffalo District has awarded a repair contract to Great Lakes Shipyard for two tugs and two barges from the Corps’ Cleveland Field Station.

 
 
Maritime Contracts Maritime Standards Offshore Oil Pipelines Pod Propulsion Port Authority Salvage Ship Electronics Shipbuilding / Vessel Construction 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: 0.1080 sec (9 req/sec)