LONDON (Thomson Financial) - Ocean Wilsons Holdings Ltd. said its pretax
profit for the first half came in well below last year, despite a 36 percent
increase in revenues, due to the profit it made in 2007 on the sale of its stake
in Wilson Sons Ltd.
For the six months ended June 30, the maritime services company's pretax
profit reached $52.1 million compared with $250.27 million last year.
The company's 2007 results included the profit on the sale of minority
interest of $213.7 million from the IPO of Wilson Sons Ltd. and removing the
Wilson Sons IPO profit from the 2007 result, the comparative profit before tax
for 2007 would be $36.6 million, the company said.
Ocean Wilsons said its revenue for the period rose to $248.44 million
compared with $182.67 million last year driven by increases in its core
businesses and expansion of vessel construction business.
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