Bureau Veritas expects new orders in its marine division to fall next year compared to exceptional levels achieved in 2006 and 2007, the inspection and certification group said in a presentation of its full year results. The company nevertheless predicts strong organic growth at the division in 2008 and is targeting an increase in market share through a focus on passenger ships, gas tankers and offshore supply vessels such as LNG floating storageunits.
The marine division's fleet in service is scheduled to expand again after growing to 58 at the end of last year from 55 at end-2006, according to the presentation.
Last year, the marine business was Bureau Veritas' best performing division, lifting operating profit by 39.2 pct to 71.0 mln eur.
In Bureau Veritas' industry business, 'strong growth' is expected in 2008, with capital spending planned in oil and gas, power and utility infrastructures. Activities will be affected by ageing of facilities and outsourcing of inspection of in-service facilities, the company said.
In-Service Inspection & Verification should see an increase in profitability this year after the margin narrowed to 9.0 pct in 2007 from 10.5 pct previously.
Health, Safety and the Environment, where adjusted operating profit dropped 31.4 pct last year because of one-time costs in the US, UK and Australia, is expected to post a strong 2008 performance in France and the US, Bureau Veritas said.
HSE plans new services related to energy efficiency, green building, REACH (the EU's chemicals directive), climate and carbon services and the EU safety at work directive.
The construction division could be affected this year by weak US and Spanish housing markets but Bureau Veritas expects growth in Japan and France as well as in public infrastructures in Spain.
It sees outsourcing opportunities in Abu Dhabi, Saudi Arabia, US and Europe.
At the certification business, the company predicts solid organic growth in 2008 thanks to strong new sales.
In consumer products, Bureau Veritas foresees a continuing strong performance in toys, with development in Europe and Asia plus an impact from new regulations such as REACH and Wimax.
The international trade operations are planning a strategic expansion initiative in mining and minerals, especially in China, Brazil and Australia, according to the presentation.
This morning, in its first results release since the company's flotation in October, Bureau Veritas said net profit rose 2.9 pct to 158.4 mln eur last year from 154.0 mln in 2006 and profit before exceptionals jumped 19.3 pct to 193.2 mln from 162.0 mln, increasing the margin to 15.1 pct from 14.5.
Revenue and adjusted operating margin should grow by more than 15 pct this year, 'despite the likelihood of a difficult economic backdrop', the company said.
The marine division's fleet in service is scheduled to expand again after growing to 58 at the end of last year from 55 at end-2006, according to the presentation.
Last year, the marine business was Bureau Veritas' best performing division, lifting operating profit by 39.2 pct to 71.0 mln eur.
In Bureau Veritas' industry business, 'strong growth' is expected in 2008, with capital spending planned in oil and gas, power and utility infrastructures. Activities will be affected by ageing of facilities and outsourcing of inspection of in-service facilities, the company said.
In-Service Inspection & Verification should see an increase in profitability this year after the margin narrowed to 9.0 pct in 2007 from 10.5 pct previously.
Health, Safety and the Environment, where adjusted operating profit dropped 31.4 pct last year because of one-time costs in the US, UK and Australia, is expected to post a strong 2008 performance in France and the US, Bureau Veritas said.
HSE plans new services related to energy efficiency, green building, REACH (the EU's chemicals directive), climate and carbon services and the EU safety at work directive.
The construction division could be affected this year by weak US and Spanish housing markets but Bureau Veritas expects growth in Japan and France as well as in public infrastructures in Spain.
It sees outsourcing opportunities in Abu Dhabi, Saudi Arabia, US and Europe.
At the certification business, the company predicts solid organic growth in 2008 thanks to strong new sales.
In consumer products, Bureau Veritas foresees a continuing strong performance in toys, with development in Europe and Asia plus an impact from new regulations such as REACH and Wimax.
The international trade operations are planning a strategic expansion initiative in mining and minerals, especially in China, Brazil and Australia, according to the presentation.
This morning, in its first results release since the company's flotation in October, Bureau Veritas said net profit rose 2.9 pct to 158.4 mln eur last year from 154.0 mln in 2006 and profit before exceptionals jumped 19.3 pct to 193.2 mln from 162.0 mln, increasing the margin to 15.1 pct from 14.5.
Revenue and adjusted operating margin should grow by more than 15 pct this year, 'despite the likelihood of a difficult economic backdrop', the company said.