Turnover 1st Semester 2003 : + 7.8 %
Offshore business continues its strong growth : + 33.9 %

Offshore business continues to develop vigorously (+ 33.9%), as forecast in our business plan, while the Retailing sector harvests the fruits of its marketing strategy (+ 10.8%).

Millions of euros

1st Sem. 03

1st Sem. 02

Variation

       

Consolidated turnover

481

446

7.8 %

France

282

268

5.2 %

International

199

178

11.8 %

       

Marine Services

190

170

11.8 %

inc. Offshore

83

62

33.9 %

Towage & assistance

50

56

(10.7 %)

Bulk transport

54

51

5.9 %

       

Retailing

266

240

10.8 %

France

224

202

10.9 %

International

42

38

10.5 %

       

Other business

25

36

(30.6 %)

Marine Services :

  • The Offshore-linked business, the Group's strategic growth vector, confirms its strong growth rate (+ 33.9%) and its development potential, fuelled by major investments already undertaken.
  • The Towage and Assistance work has suffered from the prevailing economic doldrums and from events in the Ivory Coast. The transfer of minor-port business has led to a drop in business of around 6% since the beginning of the year.
  • Bulk Transport figures have shown a growth of 5.9%, helped by favourable freight rates.

Retailing :

The increased turnover in the Retailing sector (+ 10.8% over the first semester) exceeds our average forecast in the 2003-2007 business plan and may be explained as follows :

  • in Reunion, by energetic action on sales prices and regular offers in a general context of sharp competition and an unfavourable economic climate (in the first semester of 2002, the sales growth was hampered by exceptional profitability).
  • on an international scale, measured at a constant exchange rate, the store turnover growth is 37.6%.

The consolidation of the Spar supermarkets in Mauritius (as of February 1st 2003) and that of the new retailing business in Mayotte (as of April 1st 2003) accounts for 80% of this growth.
Paris, August 11th 2003

Press contact : Catherine Gros or Tiphaine Hecketsweiler, 01 53 70 74 70, thecketsweiler@image7.fr
Corporate contact : Patrick Mangaud, 01 40 13 86 09, patrick@mangaud.com
www.groupe-bourbon.com