Bulk shipping carrier Hellenic Carriers posted impressive maiden figures following its listing on AIM last November, with net income almost tripling.
The group, which owns and operates a fleet of six dry bulk vessels that transport iron ore, grain, steel products and minor bulk cargoes, lifted full year revenue in 2007 by 117% to $32.8m, underlying earnings by 156% to $24.8m and net income by 260% from $5.4m $19.3m.
In 2007, the company owned 3.1 vessels on average, earning on average US$27,311 per day compared to 2.6 vessels and average earnings of US$15,413 per day in 2006.
For 2008, 63% of fleet available days in 2008 are already secured under time charters. Three of its six ships will be coming available for re-chartering in the second quarter, which Hellenic expects to charter at higher rates than current levels.
"The current year will also benefit from the revenue and profit generation capacity of our larger fleet of six vessels," chief executive Fotini Karamanlis added.
Hellenic, which raised $54.5m when it floated at 212p to buy two new ships, will pay a final dividend of 1.1p.
The group, which owns and operates a fleet of six dry bulk vessels that transport iron ore, grain, steel products and minor bulk cargoes, lifted full year revenue in 2007 by 117% to $32.8m, underlying earnings by 156% to $24.8m and net income by 260% from $5.4m $19.3m.
In 2007, the company owned 3.1 vessels on average, earning on average US$27,311 per day compared to 2.6 vessels and average earnings of US$15,413 per day in 2006.
For 2008, 63% of fleet available days in 2008 are already secured under time charters. Three of its six ships will be coming available for re-chartering in the second quarter, which Hellenic expects to charter at higher rates than current levels.
"The current year will also benefit from the revenue and profit generation capacity of our larger fleet of six vessels," chief executive Fotini Karamanlis added.
Hellenic, which raised $54.5m when it floated at 212p to buy two new ships, will pay a final dividend of 1.1p.