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.

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