France: Bourbon’s revenues for the third quarter of 2008 has increased by 19.5 percent compared to 2007 according to the offshore oil and gas marine service provider’s quarterly financial results for 2008.
This was underpinned by a strong growth in offshore division revenues, despite the moderate decline in bulk division revenues. Revenues for the offshore division also rose 43 percent compared to 2007, with a particularly strong growth in Africa and Asia. “The outstanding performance by the Offshore Division stemmed from the projected growth in the vessel fleet and improved rates following contract renewals whereas the Bulk Division experienced a reversal in the trend of exceptional growth of the past three years“ said Jacques de Chateauvieux, Chairman and CEO of Bourbon. “We are comfortably ahead of the growth targets set for the first year of the Horizon 2012 plan and the Euro/dollar exchange rate now has a positive effect on income.” Bourbon expects that its financial results will continue to be influenced by Euro/dollar exchange rate fluctuations which is set to contribute favorable to overall performance.
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