Printer Friendly

ANANGEL-AMERICAN SHIPHOLDINGS ANNOUNCES RESULTS FOR NINE MONTHS ENDED MARCH 31, 1992

 ANANGEL-AMERICAN SHIPHOLDINGS ANNOUNCES RESULTS
 FOR NINE MONTHS ENDED MARCH 31, 1992
 PIRAEUS, Greece, May 20 /PRNewswire/ -- Anangel-American Shipholdings Limited (NASDAQ: ASIPY) today announced the following results for the nine month period to March 31, 1992:
 Profit from shipping operations was US$24,984,000 compared to US$25,890,000 achieved in the corresponding period in 1991. The 1991 results included US$750,000 profits generated by the M/V "Alpha Flame" which was sold in November 1990.
 Net income of US$18,195,000 (1991: US$24,783,000) represents an EPS (after preferred dividend) of US$1.02 (1991: US$1.39). Net income for 1991 includes US$7,002,000 or US$0.43 per share realized on the disposal of the M/V "Alpha Flame."
 On a quarterly basis, net income for the third quarter ended March 31, 1992 was US$5,233,000 or US$0.29 per share, compared with US$6,736,000 or US$0.37 per share for the corresponding quarter ended March 31, 1991. This decrease reflects principally the lower level of freight rates experienced during the period.
 On May 4, 1992 the company retired its preference shares. This transaction is expected to improve returns to the company's ordinary shareholders.
 Marinos Costeletos, company vice president, commented "In view of the recent hardening in dry cargo freight rates and the results reported to date, we look forward to another satisfactory year in the company's performance."
 -0- 5/20/92
 /CONTACT: Marinos Costeletos, vice president of Anangel-American Shipholdings, in Piraeus, Greece: 422-4500, or in London: 71-828-3388/
 (ASIPY) CO: Anangel-American Shipholdings Limited ST: IN: MAR SU: ERN


TS -- NY015 -- 2145 05/20/92 07:39 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:May 20, 1992
Words:283
Previous Article:NEW COMIC BOOK USES FAMILIAR CHARACTERS TO TEACH KIDS THE IMPORTANCE OF WEARING BICYCLE HELMETS
Next Article:DISCOVER THE DEEP DISCOUNTER WHEN SHOPPING FOR A BROKER
Topics:


Related Articles
ANANGEL-AMERICAN SHIPHOLDINGS ANNOUNCES FIRST QUARTER EARNINGS
ANANGEL-AMERICAN SHIPHOLDINGS LIMITED REPORTED THIRD QUARTER EARNINGS UP 10 PERCENT
ANANGEL-AMERICAN SHIPHOLDINGS LIMITED REPORTED FIRST QUARTER EARNINGS UP 67 PERCENT
ANANGEL-AMERICAN SHIPHOLDINGS LIMITED REPORTS SIX MONTH NET EARNINGS UP 46% AND DECLARES 50 CENTS INTERIM DIVIDEND
ANANGEL-AMERICAN SHIPHOLDINGS LIMITED REPORTS NINE MONTH NET EARNINGS UP 28%
ANANGEL-AMERICAN SHIPHOLDINGS LIMITED REPORTS SIX MONTH NET EARNINGS AND DECLARES 50 CENTS INTERIM DIVIDEND
ANANGEL-AMERICAN SHIPHOLDINGS LIMITED REPORTS SIX MONTH NET EARNINGS UP 78% AND DECLARES 50 CENTS INTERIM DIVIDEND
Anangel-American Shipholdings Limited Reports Lower Earnings For Quarter
Anangel-American Shipholdings Limited Announces Six Month Results
Anangel-American Shipholdings Limited Reports Nine Months Earnings

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters