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LONDON (Thomson Financial) - ACM Shipping Group Plc. reported an increased
full-year pretax profit on higher revenues and announced it has agreed to
acquire the shipbroking business of Harris & Dixon Shipbrokers Ltd for 2.5
million pounds in cash.
The international tanker broker posted a pretax profit of 4.82 million
pounds for the year to end-March compared with a restated profit of 3.68 million
pounds in the year-ago period. Total revenue rose to 19.6 million pounds from
13.5 million pounds.
ACM Shipping has recommended a final dividend of 4 pence per share, taking
the total dividend to 6 pence per share.
Going further, the company said the start to the current year has been
encouraging.
Excluding the effect of the acquisition of ACM Shipping Services Limited,
like for like revenue in dollars increased by 22 percent on 2007, ACM Shipping
Group said in a statement.
The company said sale and purchase had an exceptional year and the current
forward order book is valued at $7.5 million.
For the year to end-December 2007, London-based Harris & Dixon made a profit
before interest of 0.8 million pounds, before paying out staff and director
bonuses with revenue of 2.1 million pounds.
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