Bourbon Reports Growth

Bourbon said sales for the first half amounted to $511m, up 29.7 percent versus $394.5m a year earlier, driven by sharp growth in offshore and bulk operations. At constant exchange rates, growth would have been 38.5 percent. Revenues for the offshore division came to $319m at end-June, up 28.3 percent, while bulk operations posted sales of $161.9m, representing 42.9 percent growth.

In the second half, the offshore division should continue to benefit from a buoyant market and make the most of 25 new vessels entering service - five supply and 20 crew boats, Bourbon said. The bulk division should profit in the second half of the year from the high freight levels noted in the first half of 2007, the company said. Source: Thompson FInancial