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

Marine Propulsion

Krill Supplies VFMMS to Island Tug and Barge

Krill Systems Inc., a producer of Vessel Fuel Measurement and Monitoring Systems (VFMMS), announced delivery, installation and successful sea trials of three more systems to Island Tug and Barge Ltd.

MN 100: Delta T Systems, Inc.

858 west 13th Court Riviera Beach, FL 33404 Telephone: 561 204 1500 E-mail: michael.gabriel@deltatsystems.com Website: www.deltatsystems.com CEO/President:

CMA CGM Chairman Visits Bow-Refitted Containership

During the recent call in Beirut, Lebanon, of the 'CMA CGM Columba', Mr. Jacques R. Saadé, CMA CGM Group's Chairman and Chief Executive Officer, visited the 11,400 TEU ship.

Workboats

Krill Supplies VFMMS to Island Tug and Barge

Krill Systems Inc., a producer of Vessel Fuel Measurement and Monitoring Systems (VFMMS), announced delivery, installation and successful sea trials of three more systems to Island Tug and Barge Ltd.

MN 100: Conrad Shipyard

1501 Front Street Morgan City, LA 70380 Telephone: 985 384 3060 E-Mail: rasampey@conradindustries.com Website: www.conradindustries.com CEO/President: Johnny Conrad Number of Employees: 1,

Signet Tows Aircraft Carrier on Final Voyage

The final voyage of aircraft carrier USS Saratoga begins today. From the Eastern Hemisphere to the Western Hemisphere, the USS Saratoga has made her mark around the globe,

 
 
Maritime Careers / Shipboard Positions Maritime Security Maritime Standards Pipelines Pod Propulsion Port Authority Salvage Ship Simulators Sonar 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: 0.2199 sec (5 req/sec)