GESCO TO DEMERGE PROPERTY BUSINESS

Article Abstract:

The Great Eastern Shipping Company Ltd (Gesco) has decided to demerge a few activities of its property division into a new company. The demerger, which is part of a restructuring exercise, will also involve transfer of staff and intangibles to the new company. The demerger is with effect from April 1, 1999 but the process may take a few months to get completed. Shareholders of Gesco will be offered shares free of cost in the new company proportionate to their holdings. (khr)

Strategy & planning, Parent-to-subsidiary activities

---

GESCO H1 NET PROFIT SINKS BY 24%

Article Abstract:

The net profit of Great Eastern Shipping Company Ltd (Gesco) has declined by 24 percent to Rs68.81 crore for the first half of 1998-99 (Rs90.65 crore for the first half of 1997-98). Its sales increased to Rs459.54 crore (Rs376.99 crore). Gesco is involved in shipping operations and real estate business. (gs)

Market information - general

---

GESCO RECORDS 8.4% DROP IN NET

Article Abstract:

The Great Eastern Shipping Company Ltd (Gesco) suffered a 8.4 percent fall in its net profit in the quarter ended December 31, 1998. Its net profit was Rs29.87 crore (Rs32.62 crore in the same period of 1997). (ag) (kvr)

Similar abstracts:

• Abstracts: GAINING FROM STATUS: IPCL IPCL RECORDS Rs36-CR NET. IPCL CHANGES STRATEGY TO BEAT GLUT IN GLOBAL MARKET
• Abstracts: NALCO TO RAISE SMELTER CAPACITY OF ORISSA PLANT. NALCO PAYS RS 128.86-CR DIVIDEND
• Abstracts: NTPC TO RAISE RS11,000 CRORE FOR SIX PROJECTS. GOVT CLEARS NTPC'S HYDEL GENERATION PLAN. NTPC ALL SET TO ACHIEVE 30,000 MW BY 2007
• Abstracts: BPCL TO OPEN 600 OUTLETS FOR LUBRICANTS. BHVP BAGS Rs3-CRORE ORDER FROM BPCL
• Abstracts: LAKSHMI AUTO COMPONENTS - A WORTHY PROPOSITION. LAKSHMI AUTO NET UP 53.4%. LAKSHMI AUTO SALES, NET HIGHER

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.