You are currently viewing our site as a guest, which gives you limited access to our site features. By signing up for a free membership, you will receive our Investment Opportunity newsletters and have access to additional features for finding and comparing managed funds and shares. Registration is fast and simple, so please:
Business Description: Mermaid Marine Australia Limited (MRM) is an Australian marine services provider to the offshore oil and gas industry, specializing in the provision of marine logistics and supply base services throughout all phases of the oil and gas development cycle. The business is split into three divisions: Vessels, Supply Bases and Slipway.
Strategy Analysis: During FY11, MRM developed a five year strategic plan which involves expanding the fleet, particularly in relation to medium-sized platform supply vessels. Based on current and proposed LNG projects demand for platform supply vessels will increase significantly during the next three years as more projects are established in the North West Shelf, Browse Basin and Timor Sea. The fleet expansion strategy will be supplemented with the use of charter vessels when necessary for urgent contract work. At the commencement of FY12, MRM had nine Singapore-flagged vessels capable of working internationally. To ensure the company is not fully dependent on offshore oil and gas projects in Western Australia, MRM will undertake further international expansion, particularly in South East Asia. MRM will continue with infrastructure development at the Dampier and Broome supply bases to ensure future growth opportunities with major customers can be fully captured.
Mermaid Marine Australia reported NPAT up 17.6% to $32.49m for the half-year ended 31 December 2012. The result was driven by strong demand for services across each of the company's Vessel, Supply Base and Slipway businesses. Revenues from ordinary activities were $221.99m, up 15.1% from the same period last year. Diluted EPS was 14.38 cents compared to 12.49 cents last year. Net operating cash flow was $21.55m compared to $34.84m last year. The interim dividend declared was 5.5 cents compared with 5.0 cents last year. Looking ahead, the company's overall performance for the second half will largely depend on vessel demand, however the overall FY2013 performance will be one of continued growth.
The Age 24/05/2013 |
The door has been opened to full deregulation of electricity prices in NSW after a report found there was a high degree of competition, with more than 60 per cent of households on unregulated contracts.
The Age 24/05/2013 |
James Hardie expects no big improvement in the housing market this year but says the sector has stabilised after interest rate cuts.
The Age 24/05/2013 |
Foster's owner SABMiller reported a 5 per cent drop in sales volumes in Australia over the past year but notched up 3 per cent growth in the fourth quarter, boosted in particular by the relaunch of Victoria Bitter.
The Age 24/05/2013 |
The ASX took more than three hours to tell stockbrokers and investors a computer failure had knocked out its critical market announcements feed in October last year, according to a new investigation into the incident.
The Age 24/05/2013 |
The Australian dollar plunged to its lowest level in a year, shedding over US2¢ in a session, as traders reacted to contradictory comments from the head of the US Federal Reserve on Thursday.
Already a member? 
$ 3.270
