Business
Japaul Forecasts N3bn Turnover In First Quarter
Japaul Oil & Maritime Services Plc has made a forecast of N2.52 billion turnover for the first quarter ending March 31, 2010.
The maritime sub-sector also projected a profit before tax of N708.3 million and profit after tax of N531.2 million for the same period.
The company recorded impressive performance in its financial year ended December 31, 2009 which showed turnover of N3.97 billion as against N2.33 billion recorded in the comparable period of 2007, representing 70.6 per cent growth.
Profit after tax stood at N681 million compared with N378 million in 2007 translating to 80.2 per cent increase.
Operating profit grew by 111.9 per cent to 1.01 billion in 2008 from 477.33 million recorded in the comparable period of 2007.
Current assets stood at N2.9 billion while shareholders fund increased from N1.53 billion in 2007 to N20.99 billion which accounted mainly for the proceeds from the public offer and increase in the profit after tax.
King Alfred Diette-Spiff, chairman of the company disclosed to shareholders recently that the company has signed a partnership agreement with several multinational companies in Asia that specialiSe in off- shore operations, adding that the company can now do multi billion dollar contracts not only in Nigeria but also in all parts of West Africa.
Diette-Spiff said the Japaul Oil should be able to build and develop their own fleets to more than 30 vessels for offshore operations which in no doubt enhanced the earning capability of the company and improved dividend to shareholders.
He noted that the set of vessels that the company is acquiring is preparing for offshore operations, remarking that that is where money is in the industry.
Business
Kenyan Runners Dominate Berlin Marathons
Kenya made it a clean sweep at the Berlin Marathon with Sabastian Sawe winning the men’s race and Rosemary Wanjiru triumphing in the women’s.
Sawe finished in two hours, two minutes and 16 seconds to make it three wins in his first three marathons.
The 30-year-old, who was victorious at this year’s London Marathon, set a sizzling pace as he left the field behind and ran much of the race surrounded only by his pacesetters.
Japan’s Akasaki Akira came second after a powerful latter half of the race, finishing almost four minutes behind Sawe, while Ethiopia’s Chimdessa Debele followed in third.
“I did my best and I am happy for this performance,” said Sawe.
“I am so happy for this year. I felt well but you cannot change the weather. Next year will be better.”
Sawe had Kelvin Kiptum’s 2023 world record of 2:00:35 in his sights when he reached halfway in 1:00:12, but faded towards the end.
In the women’s race, Wanjiru sped away from the lead pack after 25 kilometers before finishing in 2:21:05.
Ethiopia’s Dera Dida followed three seconds behind Wanjiru, with Azmera Gebru, also of Ethiopia, coming third in 2:21:29.
Wanjiru’s time was 12 minutes slower than compatriot Ruth Chepng’etich’s world record of 2:09:56, which she set in Chicago in 2024.
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