ACM Shipping Group plc (AIM:ACMG), a leading international tanker broker, today announces its interim results for the half year ended 30 September 2008.

3 December 2008

Highlights

- Revenue in US dollars up 76% to US$24.4 million (H1 2007: US$13.8 million)
- Profit before amortisation and tax £3.4 million (H1 2007: £1.7 million)
- Interim dividend increased by 25% to 2.5 pence per share (H1 2007: 2.0 pence per share)
- Adjusted diluted earnings per share increased 93% to 13.7 pence (H1 2007: 7.1 pence)
- Forward order book at record level of US$43.5 million
- Strong cash position with £1.7 million at half year and no debt
- Acquisition of Harris & Dixon Shipbrokers

Commenting on the results, Johnny Plumbe, Chief Executive of ACM Shipping Group plc, said: “I am delighted with the results for the first half of the year. In line with our strategy all areas of the Group have grown organically. In addition the complementary acquisition of Harris & Dixon has outperformed management expectations in the first half. Prospects for the Group in the second half are strong, recent trading has been encouraging and the Group has a good forward book in time charter and sale and purchase in the second half.

“We are in the fortunate position of not having exposure to the dry bulk cargo market at this time. The fundamentals of the world’s oil consumption are somewhat different to the dry bulk market. The current strength of the dollar will boost the sterling equivalent income and the Board has confidence for the full year.”

ACM Shipping Group plc