China Dredging as you might have guessed is a dredging contract services provider to the Chinese marine infrastructure market. Its services include on-site investigation and measurement, cost estimation, sediment and obstruction removal and transport and disposal of dredged material “in an environmentally responsible manner.”
The company noted that revenues increased by 47.5% in 2009 over 2008 to $80.3 million; those revenues are up another 50.1% to $91.4 million in the first 9-month period of 2010 over 2009. Net income rose some 43.3% to $28.8 million in 2009 and rose by some 51.7% to $34.4 million for the nine-month period ending September 30, 2010.
The company also claims a backlog of $53.4 million as of September 30 and also claims that it sees “significant revenue visibility through 2011 and into 2012.”
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