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| Boskalis makes 2008 record year, sees stagnation Dutch group Royal Boskalis Westminster NV, the world's largest dredger, achieved a net profit of € 249.1 million in 2008 (2007: € 204.4 million). Net profit excluding exceptional items rose 15% to € 235.7 million in 2008. Revenue was € 2.1 billion, up 12% from 2007 (€ 1.9 billion), and was widely spread, both geographically and across all market segments. In 2008 Boskalis won new orders worth € 2.3 billion. In addition, the order book was cleared of projects that are no longer expected to be executed or are expected to suffer significant delay. This resulted in the removal of around € 450 million worth of revenue from the order book, including all projects in Dubai. Despite this adjustment, high revenue levels in 2008 and the economic stagnation, the order book remained at the high level of € 3.4 billion. “2008 has been the best year in our history, with record revenue and profit," Peter Berdowski, CEO said in a statement. "After years of boisterous growth we are set for a period of stagnation," the group said, adding that 2009 earnings will be lower than the record levels achieved in 2008. write your comments about the article :: © 2009 Construction News :: home page |