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Stolt’s profits soar

7:12 AM MST | November 8, 2013

Stolt-Nielsen has posted a huge increase in net profit for the third quarter, $21.6 million versus $6.7 million in the same quarter last year, on revenue of $521.8 million, up from $516.4 million one year earlier. The results, excluding one-off items, reflect a stronger performance by the Stolt Tankers subsidiary, which swung to an operating profit of $9 million from a loss of $800,000 in the year-earlier quarter. “In August, Stolt Tankers was profitable for the first time since 2009—a significant milestone,” says Niels Stolt-Nielsen, CEO of...

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