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

People & Company News

San Jacinto College Breaks Ground on New Training Center

San Jacinto College has broken ground along the Port of Houston for its new 45,000-square-foot Maritime Training Center.   At the site of 3700 Old Highway 146 in La Porte,

New Chinese Shipyard Launches First Ship

The new shipyard facility of Honghua Offshore Oil & Gas Equipment Company in Jiangsu, China, has launched its first ship, an IMT982 Platform Supply Vessel. The vessel,

Wärtsilä to Begin Building LNG Terminal in January

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland.

Offshore

Polarcus Awarded 3D Project Off West Africa

Polarcus Limited has signed a letter of intent with Perenco Oil & Gas Gabon S.A. for a 3D marine seismic acquisition project offshore West Africa.   The project,

Boskalis, VolkerWessels Win Offshore Wind Farm Work

Royal Boskalis Westminster N.V., in partnership with Volker Stevin International (VolkerWessels), has been awarded a contract by Iberdrola Renewables Offshore Deutschland

Nordic Yards Delivers 'Wind Server'

Nordic Yards officially handed over the offshore service vessel to the Danish company DBB Jack-Up Services A/S. During the handover ceremony, the ship was named ‘WIND SERVER’.

Finance

DSG Marine Asks Shipowners to Consider Fixed Premium P&I Cover

P&I Insurance Seminar for Owners and Charterers held in Mumbai DGS Marine, a global P&I management provider and exclusive manager for the British European and Overseas (BE&O) P&I Facility,

Liquefaction Terminals to Dominate LNG Capital Expenditure

Capital expenditure (Capex) on global LNG facilities is expected to total $259 billion (bn) over the period 2015-2019, with investments expected to be 88% larger

EGAS Tenders for as many as 48 LNG Cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior

Container Ships

MSC Oscar is the World’s Largest Containership

MSC Oscar, the newest cargo vessel built for Mediterranean Shipping Company (MSC), will launch in January 2015, and at 19,224 teu, the containership will take the record for world’s largest.

NPCT1 to Develop New CT in Jakarta

PT. Pelabuhan Indonesia II (Persero) (“IPC”), Mitsui & Co, Ltd. (“Mitsui”), Nippon Yusen Kabushiki Kaisha (“NYK Line”) and PSA International Pte Ltd (“PSA”)

US Shippers, West Coast Dockworkers Union Resume Contract Talks

Negotiators for shipping lines and terminal operators at 29 U.S. West Coast ports resumed contract talks with the union for dockworkers on Thursday, as cargo backups continued at the ports,

Marine Equipment

Optimarin ,Goltens Ink BWT Retrofit Agreement

Ballast Water Treatment (BWT) specialist Optimarin and Goltens, a provider of engineering and installation solutions for the shipping industry, have signed a nonexclusive

Ennsub Delivers ROV Deployment Systems

Ennsub has completed the design and manufacture of two workclass remotely operated vehicle (WROV) deployment systems for ROVOP, due to be installed into a newbuild

Wärtsilä to Proceed with first LNG Terminal

Wärtsilä has been given full notice to proceed (NTP) from Manga LNG Oy for the supply of a liquefied natural gas (LNG) import terminal in Tornio, Northern Finland.

Logistics

Benghazi Port Still Closed, Imports Rerouted

The commercial port in Libya's second city, Benghazi, remains closed due to fighting between pro-government and Islamist forces, forcing wheat imports to make a detour via Tobruk harbour,

EGAS Tenders for as many as 48 LNG Cargoes

Egypt's state-owned gas company EGAS has tendered to buy at least 48 cargoes of liquefied natural gas (LNG) for delivery in 2015/16, three traders said. A senior

Nordic Yards Delivers 'Wind Server'

Nordic Yards officially handed over the offshore service vessel to the Danish company DBB Jack-Up Services A/S. During the handover ceremony, the ship was named ‘WIND SERVER’.

 
 
Maritime Contracts Maritime Security Maritime Standards Navigation Pipelines Port Authority Salvage Ship Electronics 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: 0.3891 sec (3 req/sec)