Cosalt Marine We provide inspection and maintenance services for ...
Cosalt Marine We provide inspection and maintenance services for ...
Cosalt Marine We provide inspection and maintenance services for ...
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Busness review<br />
22 <strong>Cosalt</strong> plc Annual report & financial statements 2008<br />
<strong>Cosalt</strong> <strong>Marine</strong><br />
<strong>Cosalt</strong> <strong>Marine</strong><br />
<strong>We</strong> <strong>provide</strong> <strong>inspection</strong> <strong>and</strong><br />
<strong>maintenance</strong> <strong>services</strong> <strong>for</strong> liferafts,<br />
lifeboats, lifejackets <strong>and</strong> fire<br />
equipment.<br />
Glasgow<br />
Edinburgh<br />
Kiel<br />
Newcastle<br />
Rostock<br />
Birkenhead Grimsby<br />
Stockport<br />
Hamburg<br />
Grou<br />
Mil<strong>for</strong>d Haven<br />
Bristol Rotterdam<br />
Antwerp<br />
Newlyn Southampton/Gosport<br />
Plymouth<br />
<strong>Cosalt</strong> <strong>Marine</strong> locations<br />
Barcelona<br />
Revenue 2008<br />
£63.2m<br />
Headline EBIT 2008<br />
£2.1m<br />
Civittavecchia<br />
Livorno<br />
<strong>Cosalt</strong> <strong>Marine</strong> reported turnover of £63.2 million <strong>and</strong> operating<br />
profit be<strong>for</strong>e special items of £2.1 million during the period.<br />
Inaugurated in the summer of 2008, the Division is now focused<br />
into four main business units: UK <strong>Marine</strong>, Continental <strong>Marine</strong>,<br />
Crewsaver <strong>and</strong> Workwear. A breakdown of each unit is outlined<br />
in detail below.<br />
The Division was established to deal in the areas of regulated<br />
<strong>and</strong> legislated safety <strong>and</strong> as such has positioned itself in<br />
resilient areas of operation such as <strong>Marine</strong> Safety Servicing,<br />
Fire Equipment, Rail Trackside Safety Clothing <strong>and</strong> Lifting<br />
Safety Testing.<br />
Key achievements during the year have seen a 14% increase<br />
in the division’s revenues, the development of new key accounts<br />
through a targeted move towards key account management,<br />
<strong>and</strong> the introduction of new value added products such as<br />
patented lifejackets ahead of new legislation in 2010, improving<br />
the design <strong>and</strong> per<strong>for</strong>mance requirements of all foam lifejackets<br />
used by crews <strong>and</strong> passengers during an evacuation.<br />
Operationally, the Division’s structure has over the past<br />
year seen significant change including a realignment of<br />
overheads <strong>and</strong> individual roles to improve the effectiveness<br />
<strong>and</strong> competitiveness of the business. This process will<br />
continue over the year ahead.
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