DNV exceeds targets in 1H

   Det Norske Veritas Group finished the first half of the year with revenues of NOK 6.67 billion ($1.08 billion), a year-over-year growth of 16 percent fueled primarily by oil and gas, and maritime growth.
   DNV’s net profit rose from NOK 202 million during the first half of 2012 to NOK 417 million during the first half of this year. Officials say they have exceeded their targets for the first half of the year and expect continued growth during the second half of 2013.
   “Our strong focus on safety and service quality and ability to provide innovative services are helping to position us for the future and better serve our customers,” DNV’s Henrik O. Madsen, said in a statement. “Our financial strength is crucial in maintaining DNV’s independent role as one of the world’s leading and trusted technology and risk management service providers to what is often referred to as the Testing, Inspection and Certification industry. This is a euro 150 billion industry, of which some two-thirds consist of customers’ in-house activities while the remaining one-third consists of the activities of external parties, such as DNV. Outsourcing is a global trend and a strong growth driver for this market.”
   DNV is also pushing forward with its December merger with GL. The deal is still pending clearance from Chinese authorities, but DNV has already received the go-ahead from the United States, European Union and South Korea.
   “Given the timeline, the past six months laid emphasis on integration planning so that we are ready to start operating as one company as soon as possible. This will allow our customers to benefit from dealing with a stronger company without experiencing disruption to their business dealings with DNV or GL,” DNV’s Thomas Vogth-Eriksen stated. – Jon Ross