Singapore's Samudera Shipping H1 revenue rises

About this update from Pt Samudera Indonesia Tbk

OverviewSingapore shipping firm's H1 revenue rose over 12% yr/yr to $320 mlnGross profit for H1 fell ~8% yr/yr, profit after tax declined ~21%Company faced higher operating and finance costs in the periodResult DriversHIGHER OPERATING COSTS - Cost of sales, marketing and administrative expenses rose, weighing on gross profit and net incomeINCREASED FINANCE COSTS - Finance costs rose 31%, driven by higher interest on borrowings and lease liabilitiesHIGHER DEPRECIATION - Depreciation of right-of-use assets more than doubled, adding to cost pressuresCompany press release:Key DetailsMetricBeat/MissActualConsensus EstimateH1 Revenue$320.28 mlnH1 Net Income$33.24 mlnH1 Gross Profit$48.57 mlnH1 Pretax Profit$35.08 mlnReuters Recommended ReadsJuly 28 - Shipping group CMA CGM expects demand strength to stretch into third quarterJuly 29 - Ardmore Shipping Q2 revenue jumps on higher spot charter ratesJuly 27 - Monaco's Costamare Q2 voyage revenue falls 4.8% on lower charter ratesFor questions concerning the data in this report, contact [email protected]. For any other questions or feedback, contact .

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