Neptune Marine Services Doubles Cashflow in 4Q 2009

Neptune Marine Services announced its net cashflow from operations during the fourth quarter was $16.3 million, a figure that represents a 100% increase over the preceding period.

The company's consistently strong revenue performance over the last 12 months was also reflected in the $46 million that was generated during the period. Neptune's Managing Director and CEO, Christian Lange, said the quarter of activity was highlighted by the more than $30 million worth of new contracts that the company had secured with a range of blue chip clients.

"Our ability to secure contracts such as these has contributed to the high levels of organic growth that the business has experienced during the year," he explained. "Additionally, they also confirm that our unique service offering coupled with our expanding geographical presence and proven track record will help drive the growth of the business into the future."

A comprehensive review of Neptune's FY09 results will be released to the market during August.