Home Capital Broker's Calls

POSH well-positioned to ride OSV recovery

Samantha Chiew
Samantha Chiew2/22/2018 03:29 PM GMT+08  • 3 min read
POSH well-positioned to ride OSV recovery
SINGAPORE (Feb 22): PACC Offshore Services Holdings (POSH) on Tuesday reported that 4Q17 losses has narrowed to US$193 million ($254 million) from US$345 million last year, on lower impairment and loss from joint ventures.
Font Resizer
Share to WhatsappShare to FacebookShare to LinkedInMore Share
Scroll to top
Follow us on Facebook and join our Telegram channel for the latest updates.

SINGAPORE (Feb 22): PACC Offshore Services Holdings (POSH) on Tuesday reported that 4Q17 losses has narrowed to US$193 million ($254 million) from US$345 million last year, on lower impairment and loss from joint ventures.

Revenue was 71% higher at US$62.7 million due to lower overseas and spot charters for harbour tugs, which brought gross profit to US$0.8 million, 87% higher y-o-y.

Group share of results from JVs also posted a smaller loss of US$9.7 million in 4Q17 compared to US$15.5 million in 4Q16. This was mainly due to higher impairment of vessels of US$15.5 million in 4Q17 compared to US$12.5 million in 4Q16 last year, offset by higher contribution from POSH Terasea.

For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)
×
Loading next article...
The Edge Singapore
Download The Edge Singapore App
Google playApple store play
Keep updated
Follow our social media
Subscribe to The Edge Singapore
Get credible investing ideas from our in-depth stock analysis, interviews with key executives, corporate movements coverage and their impact on the market.
© 2022 The Edge Publishing Pte Ltd. All rights reserved.
Unlock unlimited access to premium articles with less than $9 per month. Subscribe Now