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Report 4Q 2010 and preliminary accounts 2010


February 16, 2011 - London

Attached please find Report 4Q 2010.

 

Farstad Shipping achieved an operating income of NOK 905.3 million for the 4th quarter.  The operating profit (EBIT) was NOK 203.9 million. The profit after taxes was NOK 39.5 million.

 

The operating income at 31.12.10 was NOK 3 358.2 million. The operating profit (EBIT) was NOK 899.3 million. The profit after taxes was NOK 431.8 million.

 

The Board will propose a dividend of NOK 4,00 per share for 2010.

 

Contacts for further information:

 

CEO Karl-Johan Bakken - tel. +47 901 05 697
CFO Torstein Stavseng -  tel. +47 911 07 001

 

 

Farstad Shipping's fleet currently consists of 58 vessels (32 AHTS, 24 PSV and 2 SUBSEA) and 4 PSV under construction. The company's operations are run from Aalesund, Aberdeen, Melbourne, Perth, Singapore, Macaé and Rio de Janeiro by a total of 1900 employees onshore and offshore. The company's strategy is to be a major international supplier of large, modern offshore service vessels to the oil industry.  We also remain committed to solid long-term charter profile for the fleet.

 

www.farstad.com

 

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients.

The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Farstad Shipping ASA via Thomson Reuters ONE

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