Preliminary Results
ACM Shipping Group plc (AIM:ACMG), a leading international tanker broker, today announces its preliminary results for the year ended 31 March 2009.
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The Full Results are available to download in PDF format
Highlights
- Total revenue up 29% on 2008 to US$50.9 million (2008: US$39.3 million)
- Profit before amortisation and taxation up 59% to £8.7 million (2008: £5.5 million)
- Final dividend of 6 pence per share, making 8.5 pence for year up 42% (2008: 6.0 pence)
- 19% increase in the number of spot fixtures contracted during the period
- Time charter forward order book at US$25 million, similar level to last year
- Harris & Dixon Shipbrokers, acquired in June 2008 has out performed management expectations
- Basic EPS up 73%, adjusted EPS up 61%
- Overseas offices, India and Singapore performing well
- Strong cash position with £4.9 million and no debt
Commenting on the results, Johnny Plumbe, Chief Executive of ACM Shipping Group plc, said: "This has been an excellent year for the ACM and I am delighted to report a 59% increase in profit before amortisation and taxation. Harris & Dixon has been successfully integrated into the Group and as well as outperforming the management's expectations, it has delivered a high level of referrals to other divisions of the business. We continue to increase our market share of the spot market and the number of completed deals was up 19% on the previous year. We have had a positive start to the current financial year, volumes have held up and we are seeing an increased level of activity. Although tanker freight rates have declined this year we have seen them pick up in recent weeks. There is still a strong global demand for oil and we have an established team of brokers in place to deliver."
For further information, please contact:
ACM Shipping Group plc |
|
| Johnny Plumbe, Chief Executive Ian Hartley, Finance Director |
Tel: +44 (0) 20 7930 7555 |
| jplumbe@acmshipping.co.uk ihartley@acmshipping.co.uk |
www.acmshippinggroup.com |
| Noble & Company Limited | |
| John Llewellyn-Lloyd | Tel: +44 (0) 20 7763 2200 |
| Sam Reynolds | www.noblegp.com |
Media enquiries:
| Abchurch | |
| Joanne Shears / Stephanie Cuthbert | Tel: +44 (0) 20 7398 7718 |
| stephanie.cuthbert@abchurch-group.com | www.abchurch-group.com |