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Stevedoring Services Releases Interim Six-Month Report
Hamilton, Bermuda: 14th March 2005 - Stevedoring Services Ltd. (STVD.BH) has released the Company's unaudited financial figures for the six month period ending 30th September 2004 to the Bermuda Stock Exchange (BSX).
"Revenue increased by 15% over the previous period whiles expenses increased by 10% resulting in a more favourable net income figure, showing an increase of 46%.
Indications are that the coming six months will not see any major fluctuations in cargo flow, and the Company's performance should continue to be satisfactory.
A dividend of $0.10 per share was declared at a Directors' Meeting held on the 30th November. 2004 and paid on the 31st December, 2004."
Summary of results for the six-month period ending 30th September 2004
| 2004 | 2003 | |
| Revenue | $5,947,928 | $5,129,329 |
| Expenses | $4,865,354 | $4,389,884 |
| Net Profit | $1,082,574 | $ 739,445 |
| Income per share | $0.86 | $0.59 |
Signed by
Kenneth Joaquin
President & CEO