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Atlantic Navigation reports Q3 2013 profit of US$4.1mn against a loss of US$4.1mn in Q3-2012……no major surprises with recovery in 2013 on track
By Kevin Scully-Financial Blog  •  November 14, 2013
Atlantic Navigation reports Q3 2013 profit of US$4.1mn against a loss of US$4.1mn in Q3-2012……no major surprises with recovery in 2013 on track Thursday, 14 November, 2013  12:8 PM
Posted by Kevin Scully

Atlantic Navigation, one of my new Stock Picks in the OSV sector, reported a good set of results in Q3-2013.

Key highlights of the results are appended below:

a)      revenue in Q3-2013 rose 60.2% to US$12.3mn

b)      gross profit rose 153.6% to US$5.7mn

c)      pretax profit was US$4.1mn against a loss of US$4.1mn in Q3-2012.  Excluding the non-operating expense of US$5.1mn in Q3-2012, Q3-2012 pretax profit would have been US$1.0mn giving a Q3 year on year growth in pretax profit of 309%

d)     net profit for Q3-2013 was US$4.1mn

e)      Nine month net profit to Sept 2013 was US$9....

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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.
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