Cammell Laird looks at expansion

NEWLY-PRIVATISED Cammell Laird has posted a major increase in pre-tax profits and sees opportunities for expansion in Europe as shipyard privatisation takes hold. The vessel converter and repairer, which reported pre-tax profits of pounds 4.2m compared with pounds 2.2m last time, is also tendering for large destroyer and frigate contracts from the Ministry of Defence. Cammell Laird won a 20-year lease to operate the Gibraltar dry dock in February. The Birkenhead group's overall workforce has grown from 250 at last July's flotation to 700.

Investment column, page 21

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