Ocean Wilsons jumps on strong performance in Brazilian logistics unit
15/11/2023 15:35
** Shares of investment holding firm Ocean Wilsons OCN.L
rise 12.8% at 1107.62p; top pct gainer in FTSE small-cap index
.FTSC
** Q3 revenue in co's Brazilian maritime services and
logistics unit Wilson Sons up 8.3% to $356.4 million
** Says investment portfolio was valued at about $297.8 mln
for nine months ended Sept. 30, up 3.7%
** OCN also confirms it received a number of indicative
non-binding offers for its indirect investment in Ocean Wilsons
Overseas Limited (OWOIL) and Wilson Sons
** Adds, strategic review process remains ongoing and
indicative non-binding offers received are highly conditional
** "3Q trading was better than expected across the group due
to a resilient OWOIL performance and higher growth and margins
at Wilson Sons" - Peel Hunt
** Stock up 19.09% YTD
(Reporting by Zainab Saifuddin Saifee in Bengaluru)
((Zainab.SaifuddinSaifee@thomsonreuters.com; +91 8766460080;))