Volvo Penta Sales Soar During 2Q 2002

Monday, April 22, 2002
Volvo Penta's sales continued to increase during the first quarter of 2002. Total sales amounted to slightly under one million dollars, which was an increase of 13 percent compared with the year-earlier period. Volvo Penta thus achieved the best sales results ever in the company's history.

In releasing its financial report on operations for the first quarter 2002, it shows that Volvo Penta´s successes continue, due to strong increases within all three of the companies business segments: Marine Leisure, Marine Commercial and Industry.

Within Marine Leisure, Volvo Penta noted continued sales increases from previously high levels in Europe. The greatest increase, however, was attributable to the strong improvement in North America.

Volvo Penta also noted better results with respect to operating income during the first quarter. Despite this, Volvo Penta reported lower earnings than during the corresponding period last year, due to changes in accounting principles for the Volvo Group. The reported operating income amounted to $14 million, compared with $16.1 million during the preceding year.

The Volvo Group´s total net sales during the first quarter of 2002 amounted to $8 million compared to $4.2 million the correspondent period the previous year.

Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

DP World to Manage Somaliland Port for 30 Years

DP World has reached an agreement to manage the Berbera port in Somaliland, which would allow it to become a major hub for goods to transit to and from the Horn of Africa,

Abu Dhabi Ports Try to Lure Chinese Businessmen

Abu Dhabi Ports - the master developer, operator and manager of ports and Khalifa Industrial Zone in the Emirate - presented the integrated offerings of Khalifa

NASSCO Lays Keel for Jones Act Tanker Liberty

U.S. shipbuilder General Dynamics NASSCO hosted a keel laying ceremony on Thursday, May 26 for the Liberty, one of three new ECO Class Jones Act tankers under a

Finance

CMA CGM Intends Offer to Acquire NOL

Following the satisfaction and waiver (as the case may be) of the conditions set forth in the pre-conditional offer announcement dated 7 December 2015, CMA CGM S.

Oman Shipping Makes Profit

Oman Shipping Company (OSC) reported a $180 million profit in 2015. Tariq bin Mohammed Al Junaidi, chief executive officer of OSC has been quoted by  Oman News

Korean Shipbuilder Could Be Liquidated

South Korea's STX Offshore & Shipbuilding Co. has filed for receivership, following massive losses that have mounted up over the past two years, says a report in the WSJ.

 
 
Maritime Contracts Maritime Security Naval Architecture Navigation Offshore Oil Salvage Ship Repair Ship Simulators Shipbuilding / Vessel Construction 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: 0.1237 sec (8 req/sec)