The SGX-quoted car carrier owner’s SGD 15m ($11.9m) acquisition of a new agency and logistics business in April added close to $1m of profit during the three months to 30 June, it announced today.
Total net profit came in 50% higher at $1.95m during the period compared to $1.25m in the same period a year earlier.
However the gain made by its diversification was offset by a 15% drop in earnings from its shipowning and management division due to the off-hire of a vessel for drydocking in May and reduction in charter hire of a vessel, the company reported.
Total
