GasLog: On Track to Pay Dividend of 11c/Share in Fourth Quarter 08/21 06:32 AM
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800) 08-21-120632ET Copyright (c) 2012 Dow Jones & Company, Inc.
News Breaks August 21, 2012 06:33 EDT GLOG theflyonthewall.com: GasLog on track to pay dividend of 11c in Q4 :theflyonthewall.com
06:33 EDT GLOG theflyonthewall.com: GasLog may explore possibilities for industry consolidation of new entrants :theflyonthewall
GasLog beats by $0.01, (10.52 ) Reports Q2 (Jun) earnings of $0.04 per share, $0.01 better than the Capital IQ Consensus Estimate of $0.03; revenues rose 1.5% year/year to $16.71 mln vs the $17.59 mln consensus. "The strong revenue reflects the continued 100% utilization of our existing fleet. Our construction program at Samsung Heavy Industries is on time and on budget, with the first ship currently undergoing outfitting for delivery in January 2013. We are optimistic about the prospects for our two open vessels as well as additional growth opportunities we see going forward from ongoing project developments and increasing demand for LNG. We believe that GasLog, with its technical platform and customer relations, is well placed to take advantage of the projected growth in the LNG trade." GasLog believes the strong fundamentals of the LNG industry will provide significant growth opportunities for GasLog's high quality LNG shipping operations. Focus in the near term will be on delivering the growth of the business, through the on-time delivery of the newbuilding fleet while ensuring full utilization of the existing ships.