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Stolt-Nielsen reports lower first-quarter net profits
8:32 AM MDT | April 4, 2013 | Ian Young
Stolt-Nielsen posted a fall in net profits for the first quarter of 2013 to $1.5 million from $8 million in the corresponding quarter of 2012, on sales of $519.4 million, up from $505.7 million a year earlier. Operating profits increased to $33 million in the first quarter of 2013, from $30.7 million a year earlier. "Stolt-Nielsen's poor first-quarter results were largely attributable to a loss at Stolt Tankers, where overall market conditions remain week," says CEO Niels Stolt-Nielsen. Stolt Tankers' operating losses narrowed to $2.8 million in the...
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