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Services :: Shipping
Stolt-Nielsen posts a big hike in earnings as tanker business swings to profit
5:57 AM MDT | October 3, 2013 | Ian Young
Stolt-Nielsen posted a huge increase in net profit for the third quarter, to $21.6 million, from $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 an improvement in the performance of the Stolt Tankers subsidiary, which swung to an operating profit of $9 million in the third quarter, from an operating loss of $800,000 in the year-earlier quarter. "In August, the last month of the third quarter, Stolt Tankers was profitable for the first time since...
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