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Strong euro dents Vopak's profits

7:06 AM MDT | August 20, 2014 | Ian Young

Vopak posted a 15% fall in net profit for the first half of 2014 compared with the corresponding period of last year, to €138 million, on flat sales of €647 million. Ebitda declined 5% year-on-year, to €366 million, and operating profit dropped 10%, to €251 million. Second-quarter figures have not been disclosed. Vopak says its results were hurt by adverse currency translation effects of the strong euro against other major currencies. Vopak, meanwhile, has revised its full-year earnings guidance and says that 2014 Ebitda excluding exceptional...

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