doubles revenue in fy06

Sydney - Monday - September 11: (RWE Aust Business News) -
Neptune Marine Services Ltd (ASX:NMS) has more than doubled revenue for
the year to June 30 2006, taking it to $2.14 million from $950,000 in
FY05.
It recorded a net loss of $2.74m against $1.56m previously.
This reflects an increase in research and development.
"2006 has been a year of significant progress for Neptune,"
managing director Christian Lange said.
He said the company was now well placed to purse growth in
broad-based sub-sea inspection, repair and maintenance.
"Our focus in the immediate future is to ensure Neptune
has the right capital structure to facilitate its growth, and investor
interest thus far has been encouraging," he said.
"We expect to make an announcement on the capital structure in
the near future.
"...There is significant scope for growth, based on the level of
anticipated project investment currently earmarked for the domestic
energy markets.
"The oil and gas sector is expected to remain strong for a number
of years.
"Regardless of cyclicality, the oil and gas infrastructure market
presents us with an opportunity to establish long-term, recurring revenue
streams for the group as repair and maintenance of existing (upstream)
infrastructure become a priority for producers.
"Revenue and earnings in the coming year are likely to reflect
the increased range of services we will offer and contributions from
acquisitions."