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Please find attached the Directors’ Report and Financial Statements for the year ended April 30, 2012.
Despite a continuing unstable economic background, the Board is pleased to report that revenue advanced by almost 10% during the year. Our policy continues to be a focus on high margin sectors of the international transport and offshore supply industries to maximise returns on the capital deployed. During the year we expanded our business geographically and in terms of the range of equipment offered. Due to the fact that we had decided to open our own office in Rio de Janeiro as opposed to working through an agency, our operation in Brazil took longer to establish than we had forecast. However, the detailed work has been completed and revenues are now following through. Eight different models of offshore cargo carrying units were delivered and depot operations established. The focus of our Brazil office is to develop our leasing and sales of offshore cargo carrying units. We plan to expand our portfolio of equipment and services including bespoke models for specific clients.
The Company’s customer base includes oil and gas majors and their principal support providers, shipping lines, freight forwarders, logistics providers, domestic storage operators and government departments and agencies. Main stream intermodal equipment leasing also generated a healthy increase during the year and our customer base continued to expand. On the trading side we continue to build relationships and increase our sources of supply. Lines of finance to fuel our development remain sufficient for our requirements.
Download 2012 Report & Accounts as PDF
2011 Report & Accounts
2010 Report & Accounts
2009 Report & Accounts |
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