Stolt-Nielsen Reports 4Q & FY11 Unaudited Results
Stolt-Nielsen Limited Reports Unaudited Results For the Fourth Quarter and Full Year of 2011. Stolt-Nielsen Limited has reported unaudited results for the fourth quarter and full year ended November 30, 2011. Net profit attributable to shareholders in the fourth quarter was $22.2 million, with revenue of $512.9 million, compared with $22.4 million and $529.8 million, respectively, in the third quarter of 2011. Net profit attributable to shareholders for the full year was $108.2 million, with revenue of $2,029.4 million, compared with $106.1 million and $1,793.7 million, respectively, in 2010. • Stolt Tankers reported an operating profit of $7.0 million, up from $6.6 million. • The Stolt Tankers Joint Service Sailed-in Time-Charter Index[1] was unchanged at 1.08.
Stolt-Nielsen to Acquire Terminal Network
Stolt-Nielsen Limited (Oslo Børs: SNI) has agreed to acquire a majority stake in Marstel Terminals, a privately held network of nine bulk-liquid storage facilities in Australia and New Zealand, with a total combined storage capacity of approximately 177,000 cbm. Upon the completion of the transaction, SNL will own 70% of the business, with the remaining 30% of the equity to be held by the founders, Graham and Anne Catley, who will continue as managers. The acquisition is expected to be completed by late summer 2011, subject to certain government approvals. Following the acquisition, the Company plans to expand the business, both by adding capacity at existing terminals and by developing new locations. Commenting on the acquisition, Niels G.
