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HomeMaritime NewsRegionsAsiaFirst Steamship full year profit dives

First Steamship full year profit dives

First Steamship full year profit dives
Taipei: Dry bulk shipowner First Steamship has its 2011 net profit slashed by almost half as revenue and investment income dipped.

The Taipei-listed company posted full year net profit of NT$545.5m ($18.5m), a plunge of 48% from NT$1.05bn recorded in 2010.

Revenue in 2011 declined to NT$197m compared to NT$239.2m a year earlier, while income from long term equity investments fell to NT$636.5m compared to NT$987.1m in 2010.

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