Forget Password?
  1. Indices
  2. Commodities
  3. Currencies
Straits Times 3,114.16 -11.98 -0.38%
Hang Seng 26,719.58 -128.91 -0.48%
Dow Jones 26,833.42 -192.46 -0.71%
Shanghai Composite 2,938.14 -39.19 -1.32%
Otto Marine Reports Net Loss Of US$15.9 Million For 1H15
Daily Bulletin | 14 August 2015

Otto Marine announced a 15.9 percent increase in revenue for 1H15, while recording a net loss of US$15.9 million.

Revenue from the shipyard segment increased by US$73.8 million as a result of the sale of a substantially completed vessel.

Despite the higher top line, gross profit fell 43.6 percent due to thin margins, which was further offset by overwhelming expenses and finance costs.

The group is focused on maintaining the vessels utilization amidst challenging charter rates through strengthening its order books and the rationalization of its cost structure.

Join The Conversation
The Shares Investment editorial team welcomes constructive feedback on our coverage and content. We would also be delighted to answer any questions on the above article. Leave us a comment below, and we'll get back to you shortly!

All Rights Reserved. Pioneers & Leaders (Publishers) Pte Ltd. Best viewed with Mozilla Firefox 3.5 and above.