Ocean Wilsons falls on profit warning
Ocean Wilsons Holdings tanked in early morning trade on Monday following a profit warning delivered in a third-quarter update.
Ocean Wilsons Holdings tanked in early morning trade on Monday following a profit warning delivered in a third-quarter update.
The company, which controls a Brazilian maritime services and logistics company known as Wilson Sons, as well as an investment portfolio said "profit for the full year may fall significantly short of current market forecasts".
Consensus estimates for the full year ending 31st December had been for revenues of £441.76m and pre-tax profits of £51.4m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Wilson Sons' revenue for the nine months ended September 30th at $468.6m was 10% down on the previous nine months, which it blamed on the devaluation of the Brazilian Real against the US dollar.
Operating profit for the period plummeted by 29% to $55.8m, hit by lower revenues, as well as higher employee and depreciation expenses.
Earnings before interest, tax, depreciation and amortisation (EBITDA) for the period at Wilson Sons was $105.6m (2011: $120.9m). Wilsons Sons adjusted EBITDA (excluding the share based payment expense) for the period was $107.9m (2011: $113.2m).
Capital expenditure for the nine months of $135.6m (2011: $191.9m) was spent principally on the expansion of Tecon Salvador, the new Guaruj shipyard and vessel construction.
At September 30th, Wilson Sons' borrowings (including obligations under finance leases) was $549.1m (December 31st 2011: $491.1m) of which $504.5m is non-current.
At October 31st, the investment portfolio including cash under management amounted to $233.6m. The investment portfolio represents $6.61 (£4.09) per Ocean Wilsons share.
CM
Sign up for MoneyWeek's newsletters
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
-
UK-US trade deal announced: US cuts tariffs on UK car imports to 10%
Keir Starmer and Donald Trump have announced a UK-US trade deal, but the US president has refused to lift baseline tariffs on most UK goods. What does it mean for the UK?
-
How to use mid-caps to diversify from the US
Medium sized companies are overlooked by investors but could offer an attractive ‘sweet spot’. We consider the case for mid-caps amid market volatility.