Wrist records profit rise

Danish tanker and bunker group Wrist has pushed up 2012 profit as revenue rose.

Pre-tax earnings climbed 16% to $76m, from $66m the year before, it said.

Revenue was up 19.6% to $14.6bn, from $12.2bn previously.

Wrist owns bunker tanker owner OW Bunker and Wrist Ship Supply.

CFO Morten Skou said: “As the shipping industry continues to face challenging economic conditions, our focus has been on working with our customers to provide them with as much operational and cost efficiencies as possible when procuring bunker fuel and ship supplies.

“And we have also invested in our physical infrastructure, such as our fleet and storage facilities.”

Looking ahead, it said it remained cautious on the future outlook for the industry, but is confident of further growth for the company.