Wrist profits lower than expected

Earnings did not match the turnover which increased by 20 percent in 2011 according to the 2011 annual accounts from Wrist Ship Supply

Photo: Hyundai Merchant Marine

With a 2011 profit of USD 3.6 million, earnings in Wrist Ship Supply were lower than expected even though it was bigger than the 2010 profit of USD 2.5 million. The company states so in its 2011 accounts but underlines that the overall development in the Ove Wrist Group went according to plan.

Turnover was higher than expected; landing at approximately USD 407 million which is an increase of 20 percent compared to 2010. During the latest accounting year, the company has focused on international expansion integrated with purchases. In particular,  German shipping and management companies have contributed to the growth just as Wrist has increased its presence in the Asian Pacific region.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

SDK Freja anticipates steep earnings drop following record year

Logistics company SDK Freja, which delivered record financials with great advancement on top and bottom lines, takes a more gloomy view of the current fiscal year due to several ”external factors.” However, the growth target remains the same, CEO tells ShippingWatch.

LNG carriers concerned about increasing ship prices

The price on new LNG vessels has soared vigorously, and for Flex LNG this has meant a withdrawal from the market for new ships. Such was the statement by Flex LNG’s chief exec at Marine Money in New York, where he also announced new long-term charter agreements.

Maersk ships delayed up to three weeks on US east coast

Bottlenecks at major container ports on the US east coast have entailed that Maersk vessels are affected by delays of up to three weeks. It’s a combination of congestion, many ships, and a lack of container space, Maersk says.

Related articles

Latest news

See all jobs