Shares & Derivatives
Atlantic Navigation announces Q1-2014 results with net profit higher by 61% to US$3.0mn…..one of my Stock Picks comfortably ontrack to meet forecasts
By Kevin Scully-Financial Blog  •  April 28, 2014
Atlantic Navigation announces Q1-2014 results with net profit higher by 61% to US$3.0mn.....one of my Stock Picks comfortably ontrack to meet forecasts Monday, 28 April, 2014  6:26 AM
Posted by Kevin Scully

 Atlantic Navigation, one of my Stock Picks, announced its Q1 FY2014 results last Friday.  The management are meeting some analysts this morning and I will have an update on this later.

Key highlights of the results are:

a) revenue rose 9.6% to US$9.2mn

b) gross profit rose 32.9% to US$4.6mn on better charter rates and lower costs

c) pretax and net profit were higher by 61% to US$3.0mn

d) EPS was US cents 1.1 while NAV was US cents 28.5

Management's forward looking statement confirms out bullishness for the next two years.

"The Group has entered into contracts with shipbuilders for the construction of two new vessels (60....

...
Read the full article
By Kevin Scully-Financial Blog
Kevin began his working life in the regional and economics division of the Ministry of Foreign Affairs. He then moved to the private sector analyzing equities before venturing out to start NRA Capital. After 25 years of watching stocks and living through financial disarray during the Pan Electric Crisis, the 1987 Crash, the Barings debacle, the Gulf War, Asian financial crisis - what can sub-prime do but add another scar to already bruised wounds. Ever since starting his blog, Kevin has been enthusiastically giving his personal views on the market. He discusses about equities, the market turmoil, and the broad economy.
LEAVE A COMMENT
LEAVE A COMMENT

Your email address will not be published.

*

Your Email Address will not be published
*

Read More Articles
More from thefinance