Vosper Profits Up, Order Book Filling

Wednesday, May 17, 2000
UK shipbuilder Vosper Thornycroft Holdings Plc, reporting a three percent rise in annual profits, said it would soon have an order book in excess $1.5 billion.

Pre-tax profits before goodwill climbed to $53.7 million for the year to March 31, up from $52.6 million the year before, on turnover of $419.2 million.

The results reflected a successful diversification strategy, Vosper said, in reference to its expansion into new markets and reduced dependence on large - but infrequent - warship contracts.

Some 67 percent of its turnover is now unrelated to new ship contracts. In addition to building warships for the British Ministry of Defense, Vosper has developed a strong support services division, which now accounts for over 40 percent of group sales. Officials said sizeable long-term contracts had been secured in this division, and the company has been able to successfully transfer experience gained on military contracts to civil markets.

Vosper's shipbuilding division had also benefited from the award of some key contracts, notably a 200 million pound order to supply Fast Attack Craft to the Greek navy. It is building a series of surface warships for the Royal Navy, and earlier this month launched Triton, a warship.

Officials said the company's marine products business had been held back by tough market conditions over the year, but with recent repositioning, it should be among the first to benefit when conditions start to improve.

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

Shipbuilding

Navios Announces VLCC Delivery

Navios Maritime Acquisition Corporation, an owner and operator of tanker vessels, has announced that the Nave Electron, a 2002-built VLCC of 305,178 dwt, was delivered

VIDEO: HMS Queen Elizabeth Floats Out

A timelapse video of HMS Queen Elizabeth floating out of her dock for the first time is now available at http://www.youtube.com/watch?v=P0ZjQz9vEKw. The float out of the 65,

GE, LR Study Gas Turbines for Commercial Ships

GE Marine and Lloyd’s Register Sign Memorandum of Understanding to Collaborate on Applying Gas Turbines to Power Commercial Ships GE Marine and Lloyd’s Register

Bulk Carrier Trends

Freeport Says Indonesia Exports Could Resume Soon

Freeport-McMoRan Inc said on Wednesday it expects to "imminently" sign an agreement with Indonesia that would enable it to immediately resume copper concentrate

Global Ocean Trade: Latest Shipbuilding Orders

No tankship orders noted the past week by Clarkson Hellas in their latest S&P Weekly Bulletin, but no lack of orders in the dry bulk carrier market, all from Far East shipbuilders.

Scorpio Bulkers Gets $540m Loan for Newbuilds

Scorpio Bulkers Inc. announced that it has received a commitment for a $540 million loan facility and provides an update on the financing of its fleet. On July 21,

 
 
Maritime Security Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Repair Ship Simulators
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: 0.0947 sec (11 req/sec)