Vopak Reports Higher Profits and Sales, Expects to Hit Ebitda Target Early

Vopak reported a 37% hike in net profits, excluding exceptional items, for the first half of 2012 compared with the year-ago period, to €169 million ($211.4 million), on sales up 16%, to €648 million. Operating profits, excluding exceptional items, increased 28%, to €280 million. Earnings per share, excluding exceptional items, increased 37%, to €1.33. The robust results reflect healthy demand for tank storage services, Vopak says. However, throughputs and occupancy rates declined at some of the company's chemical terminals in Europe during...

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