Samskip nearly doubles profits
Reykjavik-based Samskip group nearly doubled its net income in 2004 thanks to higher than anticipated exports from Iceland.
Samkip’s net profit was ISK 708 million ($1.2 million), a rise of 94.4 percent over the ISK 366 million posted in 2003. Operating income jumped 33.5 percent to ISK 23.1 billion ($39 million) from ISK 17.3 billion in 2003.
Samskip said it expects the recently announced acquisition of Dutch intra-Europe shipping and intermodal operator Geest North Sea Line to boost its annual turnover to ISK 45 billion ($76.4 million) in 2005.
The Samskip group comprises parent company, Samskip hf., plus 17 subsidiaries.
