Sparks commentary - Ocean Wilsons Holdings

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Sparks - Ocean Wilsons Holdings

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Ocean Wilsons’ (LSE: OCN) Q3 update
Published by Andy Murphy

On 21 October, Ocean Wilsons agreed to sell its Wilson Sons subsidiary for US$593m, implying a net value per Ocean Wilsons share of US$16.77 (£12.53). Adding this to the 30 September value of the investment portfolio of US$327.9m, or US$9.27 per share (£6.93/share), implies a net asset value of US$26.70 (£19.95) per Ocean Wilsons share. In the nine months to September, the investment portfolio has risen in value by 5.7% and Wilson Sons has seen revenue and profit rise 12.4% and 18.2%, respectively. The disposal of Wilson Sons to MSC is expected to complete by H225.

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