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Maybulk posts lower profit
by hlk Thu 25 Aug 2011, 18:04
KUALA LUMPUR: Malaysian Bulk Carriers Bhd, the owner and operator of a fleet of vessels, reported a lower pre-tax profit of RM76.5mil for the six months ended June 30, from RM86.8mil previously.
Revenue for the period also declined to RM154.6mil from RM210.5mil previously due to the fall in the hire rates, it said in its filing with Bursa Malaysia.
As for the second quarter ended June 30, pre-tax profit decreased to RM23mil from RM33.4mil posted in the previous corresponding period.
Revenue also declined to RM69.6mil for the second quarter from RM96.1mil previously.
The group said that a growing demand for almost all commodities averted a meltdown in freight rates. It is nonetheless keeping a cautious outlook and expects a challenging second half year.
Overall, the group would continue to be profitable, it added. — Bernama
Revenue for the period also declined to RM154.6mil from RM210.5mil previously due to the fall in the hire rates, it said in its filing with Bursa Malaysia.
As for the second quarter ended June 30, pre-tax profit decreased to RM23mil from RM33.4mil posted in the previous corresponding period.
Revenue also declined to RM69.6mil for the second quarter from RM96.1mil previously.
The group said that a growing demand for almost all commodities averted a meltdown in freight rates. It is nonetheless keeping a cautious outlook and expects a challenging second half year.
Overall, the group would continue to be profitable, it added. — Bernama
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