Dutch privately-held dredging group Van Oord said on Thursday 2007 net profit rose 85 percent to 164 million euros ($251.3 million) on favourable market conditions and an almost fully utilized fleet. Van Oord, which last month completed work on "The World", a cluster of islands off the coast of Dubai in the shape of the world's continents, said its order portfolio stood at 3.7 billion euros at the end of 2007. The company said its profitability forecast for the year ahead remains favourable. "As our existing equipment is almost fully deployed, we anticipate a limited increase in turnover," Van Oord said. In 2007 revenue was 1.7 billion euros.
Van Oord last month signed a 1 billion euro contract with the port of Rotterdam for the first phase of its planned extension. Dutch dredging company Boskalis (BOSN.AS: Quote, Profile, Research), which is the world's largest dredger, is a partner in the project.
Van Oord shares are held by Dutch construction company Royal BAM , NPM Capital and the Van Oord family, which has 51 percent of shares via a holding company.
Van Oord last month signed a 1 billion euro contract with the port of Rotterdam for the first phase of its planned extension. Dutch dredging company Boskalis (BOSN.AS: Quote, Profile, Research), which is the world's largest dredger, is a partner in the project.
Van Oord shares are held by Dutch construction company Royal BAM , NPM Capital and the Van Oord family, which has 51 percent of shares via a holding company.