Bourbon sees revenue rise in 2012

Positive: despite the fall in profits Bourbon chief executive Christian Lefevre was upbeat on the year ahead

Future growth: Bourbon chief executive Christian Lefevre expects the offshore vessel market to continue to improve in 2013

French vessel owner Bourbon saw revenues rise in 2012 on the back of strong growth in the shallow-water offshore vessel segment.

Bourbon saw revenues for the 12 months to 31 December rise 17.7% to nearly €1.2 billion ($1.6 billion), up from the €1 billion generated in 2011.

Helping boost revenue was the strong performance from the company’s marine services business, which generated €972.2 million in revenue last year, up 22.6% compared to a year earlier.

The shallow-weater offshore vessel segment within the marine services business saw the biggest growth, generating €336.7 million in 2012, compared to €241.5 million the previous year.

Bourbon said the 36.8% growth in the shallow-water vessel segment reflected an 8.6% rise…

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