Smit forecasts 35% rise in 2007 profits

11 April 2008

Netherlands-based offshore heavy lift and transport contractor Smit has forecast a growth in net profit of around 35% for 2007 compared to 2006. Net profit for 2006 was €75 million.

All divisions performed well, according to the company, “in particular, the Salvage Division, due to a high activity level during the second half of this year. In addition, a number of salvage jobs from previous years have been settled.

“Settlements for the Thunder Horse, Development Driller 1 and Arctic 1 have not yet been concluded and, therefore, have not been taken into account.” In addition to heavy lifting and transport the 165 year-old marine contractor has harbour towage, terminals, and salvage divisions.

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