Brilliant result from Neptune IMO. All divisions have made big gains. 52m rev for 2Q waay exceeds my guesstimate of 43m. Real buying opportunity at 31c this morning. If only i had spare cash. But am happy to have a stake albeit at 37c.
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Revenue: $97 million for the six months to 31 December 2008
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Cash receipts: $78 million for the six months to 31 December 2008
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Cashflow from operations: $6.4 million for the six months to 31 December 2008
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Continues to benefit from niche service offering
Perth, Western Australia: Leading engineering services company, Neptune Marine Services Limited (ASX: NMS) has taken advantage of its strategic position within the global oil and gas industry to deliver second quarter revenues of $52 million.
The encouraging quarterly revenue growth represents a 15% increase on the previous quarter (231% increase year-on-year) and takes revenue for the six months to 31 December 2008 to $97 million.
Managing Director and CEO of Neptune Marine, Christian Lange, said the result reflected a strong contribution from all divisions and confirmed ongoing demand for its niche capabilities.
“Neptune continues to perform exceptionally
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