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HomeMaritime NewsRegionsAsiaPrecious Shipping hit by 80% drop in profit

Precious Shipping hit by 80% drop in profit

Precious Shipping hit by 80% drop in profit
Bangkok: Thailand-based Precious Shipping posted a 80% plunge in full year net profit due largely to higher operating costs.

Net profit for the year ended 31 December 2012 dropped to THB141.03m ($4.74m) compared to a profit of THB718.52m in 2011.

Revenue, however, climbed 11.7% year-on-year to THB3.83bn.

Bangkok-listed Precious Shipping had to contend with 44% higher vessel running expenses due to an increase in the number of ships.

TAGS: Dry Bulk
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