16/09/2008
Oil and gas services specialist Hallin Marine Subsea International has lifted first-half pre-tax profits 24 per cent to US$13.8 (£7.7 million).
The AIM-quoted and Isle of Man-based company more than doubled turnover to $60 million (£33.7 million) in the six months to June. Hallin, which has announced a £5.6 million contract to supply saturation diving systems and personnel for Mumbai in India, says its forward order book has more than doubled to £47 million and expresses confidence in ’the continued expansion of the group’.
At 171.5p, valuing the company at £72 million, Hallin shares still offer the brave long-term growth possibilities.
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