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CGGVeritas profits produce seismic shift


Published Mar 8, 2007
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Seismic illus CGGVeritas
courtesy CGGVeritas

Geeophysics group CGGVeritas has erased its 2005 net loss of some €6 million by posting a net income for 2006 of €158.7 million, had on stronger appetites for seismic surveys, the Paris-based firm disclosed Thursday.

The final quarter’s net income rose some €17 million to €37.7 million on revenues that rose €112 million to €374 million.

The turnover of its geophysical survey business topped €792 million (US$ 991 million), up 43 percent in euro and 44 percent in dollars.

A quadrupling of operating profit during the year was credited to new imaging brand Sercel and oil industry interest in the company’s vast data library.




   

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