STOCKWATCH Stolt-Nielsen up on hopes of better-than-expected Q4 results |
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Wed, 21 Mar 2007 12:34
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OSLO (AFX) - Shares in Norwegian shipping company Stolt-Nielsen SA rose in early morning trade on hopes that it would report fourth-quarter results exceeding market expectations, dealers said.At 11.32 am Stolt-Nielsen shares were up 3.5 nkr, or just over 2 pct, at 176.50 nkr, outperforming a stronger market whose benchmark OSEBX index was up 0.4 pct to 452.82 points.Earlier Stolt-Nielsen announced it had delayed its fourth-quarter earnings statement, scheduled for release on the Oslo Bors around midday today, after finding errors in the previous year's financial accounts.According to TDN Finans, the consensus forecast is for operating profits of 53 mln usd for the period, up from 44 mln last time, on sales of 406 mln, up from 361 mln the year before.Broker Danske Bank forecast a 25 pct increase in operating profits, targeting 55 mln usd.patrick.mcloughlin@thomson.compm/twCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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Stolt-Nielsen says Q4 results delayed because of accounting problems UPDATE 