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Norden's 2009 EBIT in Line with Consensus
2010-03-10 00:46:20
COPENHAGEN -ShipperD/S Norden reported full-year 2009
operating profit in line with market consensus on Tuesday and
forecast broadly unchanged 2010 earnings.
The Denmark-based dry cargo and tanker shipping company,
whose operations were hurt last year by the slump in maritime trade
triggered by the global economic crisis, reported earnings before
interest and tax, or EBIT, of $157 million.
The mean of 12 estimates in a Reuters poll of analysts had been
for EBIT Of$154 million. Norden's own latest guidance, issued on
November 19,had been for 2009 EBIT of between $150 million and
$160 million.
Dampskibsselskabet Norden A/S forecast 2010 EBIT of between
$135 million and $185 million "due to fewer known profits from
the sale of vessels and increased depreciation on a growing fleet of
owned vessels."
The board proposed a dividend of 7 Danish crowns per share
for 2009, below 13 crowns a share one year ago and below market
consensus of an 18.5 crown per share payout.
source:
Khaleejtimes
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