The company inched up its turnover to EUR 218.7m, an increase over the EUR 206.4m seen a year ago.

GL said 75% of its revenue was generated by its Maritime Services business.

At the end of 2003 the company employed 2,148 people in 147 offices spanning 78 countries.

Presenting the figures, GL executive board member Rainer Schondube said: “The year under review was strongly characterized by an unprecedented order boom for ship newbuilding classification that is lasting into 2004.”

He