Strong growth and improved results for Domstein
Group operating revenue in the third quarter of 2010 was MNOK 147.3 compared to MNOK 126.4 last year. EBITDA was MNOK 5.7 compared to MNOK 3.3 last year. EBIT was MNOK 2.3 compared to MNOK -0.1 last year, and total result MNOK 91.5 compared to MNOK -3.0 last year, reports www.megafishnet.com with reference to Domstein.
Operating revenues per 30 September amounted to MNOK 419.7 compared to MNOK 367.3 last year. EBITDA was MNOK 15.7 compared to MNOK 4.4 last year. EBIT was MNOK 5.6 compared to MNOK -6.4 last year. Total result was MNOK 78.2 compared to MNOK -6.5 last year.
The Group's balance sheet as of 30 September amounted to MNOK 723.7 compared to MNOK 657.2 last year. Book equity is MNOK 293.3, representing an equity ratio of 40.5%. Net interest bearing debt is MNOK 63.4 compared to MNOK 347.9 last year.
There has been positive profit development in all subsidiaries and associated companies.
19 July 2010 Domstein sold the stockholding in Norway Pelagic for MNOK 303. The sale gives an accounting profit of MNOK 92 which is recognized in the 3rd quarter. The Board of Directors will, before the end of the year, decide on the disposition of any surplus capital.