Viking Prospers Despite Tough Conditions

Friday, March 19, 2010

Viking Life-Saving Equipment A/S achieved all-time-high sales of $208m, up just over six percent on 2008. The group's profit also improved slightly compared with 2008. The company’s management attributes the record performance to increased focus on cost reduction and working capital. Despite pressure on margins and the establishment of new subsidiaries and servicing stations, the tightened cost controls enabled Viking to maintain its momentum. At the same time, a decrease in capital tied up in inventory and debtors resulted in a significant reduction in the group's interest bill.

The most significant effect of the increased control over working capital can be seen in the company's liquidity, which improved by approximately $26.9m for 2009. A decrease in balance sheet totals combined with an increase in equity thus resulted in the group's equity ratio increasing from 36.9 to 45.8 percent in 2009.

Viking has boosted its international position in several aspects and, with the recent opening of a sales office in India, secured its presence in all parts of the BRIC (Brazil, Russia, India and China) countries.

“We foresee a great future in the BRIC countries,” says Henrik Uhd Christensen. “At the same time, with the acquisition of Colorado-based fire suit producer Quest Enterprises, Inc., we’re well on the way to building a strong bastion in the US market.”

(www.VIKING-life.com)


People & Company News

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

Rickmers Holding, E.R. Capital Drop Merger Plan

Rickmers Holding AG and E.R. Capital Holding have jointly decided not to pursue the merger of their ship management activities.   For many years the companies

MN100: Conrad Shipyard

The Company: Conrad Shipyard was established in 1948 and is headquartered in Morgan City, Louisiana. The company designs, builds and overhauls tugboats, ferries,

Finance

NParks, Keppel in S$2.08 mln Partnership for Restoring Singapore Forest Wetlands

The National Parks Board (NParks) and Keppel Corporation today unveiled plans for a partnership to restore the freshwater forest wetland ecosystem historically

Skaugen Goes to Red Again

Norwegian Marine Transportation Service Company I.M. Skaugen SE reported interim losses but cautiously positive and expecting a gradual recovery of trading opportunities

Kongsberg Performs Well in Q2

Norwegian defence and marine technology company Kongsberg Gruppen's second quarter 2016 (Q2) financial results shows sales performance broadly in line with recent trends,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Maritime Standards Pipelines Pod Propulsion Salvage Ship Simulators Sonar 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: 0.0812 sec (12 req/sec)