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Stevedoring Services Issues Six-Month Report
"The unaudited financials for the six-month period ended 30th September 2001, with comparative figures for the previous period, are as follows:
Revenue: 2000 - $4,574,212 2001 - $4,682,211
Expenses: 2000 - $3,935,363 2001 - $4,175,493
Net Profit: 2000 - $638,849 2001 - $506,718
Income per share: 2000 - $0.51 2001 - $0.41
"Revenue increased marginally over the previous period whilst expenses were higher resulting in a less favourable net income figure.
Indications are the coming winter months will see a decrease in cargo flow. The Company has been granted a rate increase to be implemented 1st January 2001, which should ensure net profits remain at an acceptable level. The Company has continued its quarterly dividends at the rate of $0.10 per share."
Bruce Lines
President and Chief Executive Officer