01
ACM Shipping Group plc Annual Report and Accounts 2008
IFC Corporate statement
01 Highlights
02 Business at a glance
04 Chairman's statement
06 Chief executive's review
of the business
08 Financial review
10 Board of directors
and advisers
12 Directors' report
14 Corporate governance
15 Directors' remuneration report
16 Independent auditors' report
18 Consolidated income statement
19 Group statement of recognised
income and expense
20 Balance sheets
21 Group statement of changes
in equity
22 Group cash flow statement
23 Notes to the
financial statements
39 Notice of Annual
General Meeting
IBC Group trading offices
Financial calendar
Highlights
b Total revenue up 54% on 2007 to US$39.3 million
(2007: US$25.6 million)
b Like for like revenue up 22% on 2007
b Profit before amortisation and taxation up 49%
to £5.5 million (2007: £3.7 million)
b Final dividend of 4 pence per share
b 12% increase in the number of spot fixtures contracted
during the period
b Time charter forward order book at record level
of US$24.7 million, up 27% on 2007
b Acquisition of ACM Shipping Services in December 2007
for £9.6 million
b Sale and purchase forward order book at US$7.5 million
b Basic EPS up 30%, diluted EPS up 29% while adjusted
diluted EPS is up 49%
b New office formally opened in India
Subsequent highlight
b Acquisition of Harris & Dixon Shipbrokers for a total cash
consideration of £2.5 million
Profit before amortisation
and taxation
£5.5m
(2007: £3.7m)
Revenue increase
54%
Revenue
$39.3m
(2007: $25.6m)
Commenting on the results, John Plumbe, Chief Executive of ACM Shipping
Group plc, said: "ACM has now been listed on AIM for 18 months and we
are very pleased with our progress. As well as having made two important
strategic acquisitions we have increased our revenue from organic growth.
Our global presence is growing and we are confident that this base will give
us a successful future."
