Epic : GOC

Web site : http://www.gocarriers.com/

Global Oceanic Carriers Limited (GO Carriers) is a Jersey Channel Islands registered company and is a fully integrated shipping company comprising ship ownership, management, chartering, brokering, and through its strategic partnerships, ship building and repair concentrated within the dry bulk sector.



Superb summary here : http://boards.fool.co.uk/Message.asp?mid=10520002

And the new contracts announced today have just increased the earnings figures in the TMF summary post.






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Bought some this morning, only regret is cant purchase a decent stake via CFD, however, would like to point out at the same time, that the large spread and illiquidity could be a problem if needing to sell quickly, I haven't purchased for results, again intending to hold for a while, company seems to be going from strength to strength, with forward PE's of around 5.5, seems very cheap, believe at some time this year they will make a new high. Time will tell...

Not sure what market is expecting, but that is an awesome set of results to my un-trained eye...

Just for you lazy ones... a brief summary...



LONDON (Thomson Financial) - Dry bulk cargo car Global Oceanic Carriers Ltd said first-half net profit jumped to 6.9 mln usd from last year's 160,355 usd as revenues surged by about 152 pct.

The company also initiated its stated dividend policy, and proposed a final dividend of 50 pct of its net income in respect of the period from June to end-December 2007.

It posted revenues for the first half to end-November of 22.5 mln usd against 8.9 mln usd last year. It said its cash position at end-November stood at 18.8 mln usd.

The company said it will continue to expand its business and looks forward to exploiting new opportunities.

I think the market agrees with me... lol. Although i am expecting the usual sell off later, this is a great little company, expanding their business and now paying a dividend...

With this kind of momentum behind it, its far from impossible, we could see a new high sooner rather than later...