Ferguson Reports Profits Increase for 2012

MarineLink.com
Friday, August 09, 2013

The Ferguson Group, global specialists in the provision of offshore DNV 2.7-1/EN12079 containers and accommodation solutions, has posted its 2012 results, which show continuing growth, with worldwide sales increasing by over 10% to £57.6m and pre tax profits up to £16.2m from £15.6m in 2011.

Commenting on the results, Richard Smith, Group Finance Director, said: “2012 was another successful year for the Ferguson Group, which saw the company increase profits during a year of continuing investment in our global infrastructure and asset base. The last two years have seen a substantial investment in infrastructure, strengthening our management team and continuing to build the rental fleet. We expect to see the benefits of this investment reflected in the result for 2013 and are ahead of plan at the half year.

The majority of our sales come from outside the U.K. and increasing our global presence is a key part of our business plan. The Middle East has been a region of accelerated growth for us, particularly following the launch of two new bases in Dubai and Abu Dhabi.  We also moved to larger facilities in Singapore at the beginning of 2013 to enable us to develop our business further in the Asia Pacific region and we are very optimistic about future prospects for the Group in all regions.

Our focused growth strategy continues to incorporate customer feedback, where operational safety and asset availability are key themes. We aim to put resources into those regions where our customers are at their busiest. Global expansion will continue to be a top priority for the Group over the next 12 months, as we move into other regions where clients require access to our extensive fleet of DNV 2.7-1/EN 12079 certified containers, tanks, baskets, accommodation and workspace modules.

During 2012 we began rebranding the group’s companies under a single Ferguson Group, starting with the company's businesses in Australia and Singapore, which were renamed Ferguson Group Australia Pty. Ltd. and Ferguson Group Singapore Pte. Ltd. respectively. The rebranding exercise continues throughout 2013.

Maritime Reporter September 2013 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

TNO Receives 'International Media Award for Prevention'

The Engagementgame developed by TNO in collaboration with partners is the winner of the 'International Media Award for Prevention' in the category Multi Media.

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent

Offshore

Drydocks World to Participate in SMM 2014

Drydocks World, the leading provider of maritime and offshore services to the shipping, oil, gas, and energy sectors, will participate in the prestigious 26th edition of Shipbuilding,

SBM Offshore Completes Real Estate Divestment

SBM Offshore is pleased to announce that is has completed the sale and lease back of its Monaco real estate portfolio.  The last of the three buildings was sold

Keppel T & T Appoints Lim Chin Leong to its Board

Keppel Telecommunications & Transportation Ltd (Keppel T&T) has strengthened its Board with the appointment of Mr Lim Chin Leong as an independent, non-executive

Finance

A Boost for UK Offshore Drilling? DW Monday Muses

Drilling activity offshore UK is now expected to increase over the next few years as government and industry reacts to the recommendations in Sir Ian Wood’s report

MHI, IHI & DBJ Join Forces On Investments

Mitsubishi Heavy Industries, Ltd. (MHI), IHI Corporation and the Development Bank of Japan Inc. (DBJ) concluded a three-way formal agreement today on their respective

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.

Container Ships

NYK Opens New Planning Center in Kumamoto

On September 1, 2014, NYK and Kozo Keikaku Engineering Inc. established a stowage planning center for container shipping at the Kumamoto office of Kozo Keikaku Engineering Inc.

More German Shipowners Look to Gibdock for Repairs

Gibdock remarks it has continued to see its stock rise amongst the German shipowner community over the past year. Indeed the Gibraltar ship repair yard’s recent

No Sign of Ultra-Large Containership Mega Hubs: Analysis

Contrary to the views of some in the industry, Ultra Large Container Vessels are continuing to call at multiple North European ports per loop and are not concentrating on a mega-hub,

Marine Equipment

RIMPAC Exercise Puts LCS Through Paces

It was the middle of May, and the littoral combat ship Independence was operating out of San Diego, testing components of the mine warfare mission package. The mission is one that,

MARAD Shipbuilding Loan Guarantee

The launch of the Bravante IX, built in a U.S. shipyard, was from the investments made by the Maritime Administration (MARAD) just three years ago. The investment

Voith Schneider Propellers Drive Double-ended Ferry MS Frisia IV

Ferries operated by Norden-Frisia AG have been serving the East Frisian island of Norderney for many decades. Navigation in these coastal waters poses special

Logistics

No Sign of Ultra-Large Containership Mega Hubs: Analysis

Contrary to the views of some in the industry, Ultra Large Container Vessels are continuing to call at multiple North European ports per loop and are not concentrating on a mega-hub,

Clarksons PLC Perform Strongly in 1H 2014

Leading shipping services group, Clarksons PLC reports strong strong financial performance in the first half of 2014. Financial Results Clarksons increased revenues by 25% to £111.

Dentressangle Acquire U.S. 3PL Provider Jacobson

France's Norbert Dentressangle says it has completed the previously announced acquisition of all the shares of privately held U.S. third party logistics (3PL) provider,

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Ship Repair Shipbuilding / Vessel Construction 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: 0.2902 sec (3 req/sec)