Despite a small rise in third quarter revenueCosco booked an 86% slump in net earnings to SGD 4.2m ($3.4m) for the three months to 30September from SGD 26.5m a year earlier.
Gross profit fell 36.4% to $73.2m as thecompany made inventory write-downs and provisions for expected losses.
Revenue rose 6% to SGD 989.4m thanks to aslight recovery in its shipyard operations with two bulk carriers and twobarges delivered during the period.
Captain
