Dredger DEME's order book rises due to Singapore contract
20/05/2015 07:31
BRUSSELS, May 20 (Reuters) - Belgian dredger DEME on
Wednesday said its order book at the end of the first quarter
had increased by 46 percent compared to the same period last
year, as it signed a contract for the construction of a large
port terminal in Singapore.
DEME, which is owned by Belgian construction group CFE
CFEB.BR , said revenues in the first quarter increased by 10.9
percent to 608.9 million euros ($675.1 million), due to it being
part of large scale dredging works for the widening and
deepening of Egypt's Suez Canal.
The group said its order book stood at 3.53 billion euros at
the end of the quarter after it secured new orders of 1.6
billion euros.
The group added that work on the project to dredge waters,
construct wharves and reclaim land in the Tuas area of Singapore
should further boost revenues from the second half of the year.
DEME makes up about three-quarters of CFE's revenues.
Belgian holding company Ackermans & Van Haaren ACKB.BR owns
60.4 percent of CFE, with French construction group Vinci
SGEF.PA owning 12.1 percent.
($1 = 0.9020 euros)
(Reporting by Robert-Jan Bartunek; editing by Philip
Blenkinsop)
((robertjan.bartunek@thomsonreuters.com; +32 2 2876850; Reuters
Messaging: robert-jan.bartunek.thomsonreuters.com@reuters.net))
Keywords: DREDGING DEME/RESULTS