The $65m project to raise the Kursk submarine helped Mammoet nearly double its annual profits. Pre-tax profit in 2001 was E23.4m ($21.5m), against E12m in 2000.

Revenues rose 63% in 2001 to E390.8m ($358.8m), though much of this was due to the mid-2000 acquisition of the former Mammoet company by Van Seumeren. Van Seumeren took the name of Mammoet for its newly expanded business after the takeover.

Mammoet’s 2001 annual report can be downloaded from www.mammoet.com