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Wrist Group profits up 16% in 2012

Wrist Group profits up 16% in 2012
Copenhagen: The world’s largest ship supplier Wrist Group reported a 16% increase in pre-tax profits to $76m for 2012.

The group, which owns Wrist Ship Supply and OW Bunkers, reported revenues of $14.6bn last year compared to $12.2bn.

“These are satisfactory results for the group, and provide a strong platform for further growth and development,” said Morten Skou, cfo of Wrist Group.

The group said Wrist Ship Supply increased its market share by 7% globally last year bolstered by acquisitions including Strachans Ltd and the OneSource Group in the US and Canada.

“We have expanded our global and in-country operations in key growth regions for our customers to provide support and products when and where they need them,” Skou said.

OW Bunkers also launched physical supply operations in North America out of Houston and Connecticut.