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Vopak's operating profit slips in the first quarter

12:37 PM MDT | April 29, 2013 | Ian Young

Vopak has reported a 1% decrease in first-quarter operating profit, excluding exceptional items, to €138.4 million ($181.2 million), compared with the first quarter of last year. The decline includes a currency translation loss of €400,000, but it also reflects lower average occupancy rates at Vopak's tank storage terminals and higher pension costs, partly compensated by storage capacity expansions, the company says. Ebitda excluding exceptional items edged up 1%, to €188.9 million, in the first quarter. Sales have not been disclosed. Occupancy at...

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