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
...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....