Singapore's Samudera Shipping H1 revenue rises

About this update from Pt Samudera Indonesia Tbk

Overview Singapore shipping firm's H1 revenue rose over 12% yr/yr to $320 mln Gross profit for H1 fell ~8% yr/yr, profit after tax declined ~21% Company faced higher operating and finance costs in the period Result Drivers HIGHER OPERATING COSTS - Cost of sales, marketing and administrative expenses rose, weighing on gross profit and net income INCREASED FINANCE COSTS - Finance costs rose 31%, driven by higher interest on borrowings and lease liabilities HIGHER DEPRECIATION - Depreciation of right-of-use assets more than doubled, adding to cost pressures Company press release: Key Details Metric Beat/Miss Actual Consensus Estimate H1 Revenue $320.28 mln H1 Net Income $33.24 mln H1 Gross Profit $48.57 mln H1 Pretax Profit $35.08 mln Reuters Recommended Reads July 28 - Shipping group CMA CGM expects demand strength to stretch into third quarter July 29 - Ardmore Shipping Q2 revenue jumps on higher spot charter rates July 27 - Monaco's Costamare Q2 voyage revenue falls 4.8% on lower charter rates For questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

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