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Farstad Shipping: Report 4Q 2011 and preliminary accounts 2011

Sunday, 19 February 2012 | 00:00
Farstad Shipping achieved an operating income of NOK 986.2 million for the 4th quarter. The operating profit (EBIT) was NOK 255.4 million. The profit after taxes was NOK 139.7 million.
The operating income at 31.12.11 was NOK 3 641.3 million. The operating profit (EBIT) was NOK 983.6 million. The profit after taxes was NOK 568.4 million.
The Board will propose a dividend of NOK 5,00 per share for 2011.
Farstad Shipping's fleet currently consists of 56 vessels (32 AHTS, 21 PSV and 3 SUBSEA) and 6 PSV and 2 AHTS under construction. The company's operations are managed from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro with a total of 1990 employees engaged onshore and offshore. The company's strategy is to be a leading quality provider of large, modern offshore service vessels to the oil industry. The company maintains a long-term charter profile for the fleet.
Source: Farstad Shipping
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