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Deep Sea Supply (OSL:DESSC) Deep Sea Supply's Operating Revenues, EBITDA and Net Result increased from 1st quarter to 2nd quarter and improved significantly compared to the same period in 2007. The Board has decided a dividend payment of NOK 1,00/share with ex-date 2nd September. Distribution to shareholders will be made 17th September.
Total revenues for 1H08 were USD 85,6 mill. or an increase of 58% compared to 1H07. EBITDA was USD 53,5 mill. compared to USD 35,7 mill. for 1H07. Profit for 1H08 was USD 31,4 mill. compared to USD 24,6 mill. for 1H07.
2nd quarter (1st quarter in brackets) financials showed increased total revenues of USD 43,1 mill. (USD 42,5 mill.), EBITDA of USD 28 mill. (USD 25,6 mill) and net result of USD 19,9 mill. (USD11,3 mill.). The improved revenues were mainly due to improved performance from the PSVs. Vessels' operating expenses showed a modest reduction from 1st to 2nd quarter.
Deep Sea Supply's fleet has now increased to 18 vessels. Two vessels were sold in 1H08.
