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Business Description: Neptune Marine Services Limited (NMS) is a provider of engineered solutions to the international oil and gas, marine and renewable energy industries. NMS has operations in Australia, the UK, USA, Asia and Middle East. NMS comprises two divisions, being Offshore Services and Engineering Services.
Strategy Analysis: NMS's strategy is to establish itself as a whole-of-life-cycle oilfield services company with a global capability. This is to be achieved through a combination of acquisition, organic growth, integration of services and resources and the attraction and retention of quality staff. Acquisitions have been the primary growth driver and include; Allied Diving, Territory Diving, Subsea Developments, Link Weld Engineering, US Underwater Services, Subsea Engineering Services and Sea-Struct Pty Ltd. New JV partnerships and alliances have also been entered in order to strengthen its NEPSYS division. NMS's strategy going forward includes: expanding NMS's global capabilities and global client base with a focus on Asia and developing its deepwater expertise.
Neptune Marine Services reported NPAT of $20.97m for the year ended 30 June 2009. Revenue from ordinary activities were $188.96m. Diluted EPS was 6.85 cents compared to 2.95 cents last year. Net operating cash flow was $35.42m compared to $10.92m last year. No dividend was declared.
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