"This progress is owing to our reversal of the negative results of the Energy division. A brisk order intake has lead to increased levels of activity in Kristiansand as well as in Bergen, and this entails a need for increased manning in both these places," says Johannes D. Neteland, President and CEO.
Six months into 2011, the TTS Group ASA reported earnings before depreciation of NOK 69.3 million, compared to NOK 22.7 million in the same period of 2010.
The TTS group's total turnover in the first half of this year was NOK 1 797, a 7 percent increase from the same period last year. The group reported a pre-tax profit NOK 6.7 million, compared to pre-tax loss of NOK 48.3 million after the first six months of 2010. The group's net result was a loss of NOK 10.5 million, compared to a loss of NOK 28.9 million after the first six months of the previous year.
TTS' order backlog at the end of the first half of 2011 was NOK 4 087 million, compared to NOK 3 789 million at the same time last year and NOK 3 549 million at the end of the first quarter this year. - We are really pleased to see our order backlog increasing, once again, for the first time since the economic crisis three years ago, emphasises Neteland.
The group's order intake in the first half of 2011 is NOK 2 200 million, of which NOK 1 588 million worth of orders was placed in the second quarter. After the second quarter, the Energy division has reported new orders to a total Value of approximately NOK 900 million.
- During the summer we finally experienced a breakthrough for our drilling packages in both the Chinese and Brazilian markets. This is immensely satisfactory, says Neteland
Steady course for the Marine division ................... more here
http://maritimeandenergy.com/sider/tekst.asp?side=9315
TTS Group
http://www.ttsgroup.com/
