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PACC Offshore 2Q losses halve to US$9.1 mil

Michelle Zhu
Michelle Zhu8/1/2017 6:6 PM GMT+08  • 2 min read
PACC Offshore 2Q losses halve to US$9.1 mil
SINGAPORE (Aug 1): PACC Offshore Services reported a second straight quarter of losses for FY17, registering a loss of US$9.1 million ($12.4 million) for 2Q17 compared to a loss of US$17.5 million posted a year ago.
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SINGAPORE (Aug 1): PACC Offshore Services reported a second straight quarter of losses for FY17, registering a loss of US$9.1 million ($12.4 million) for 2Q17 compared to a loss of US$17.5 million posted a year ago.


See: PACC Offshore sinks into the red in 1Q

This comes as revenue declined 8% over the quarter to US$42.4 million from US$46.1 million in 2Q16 due to lower contributions from the offshore accommodation (OA) and harbour services and emergency (HSER) segments by 24% and 15% to US$12.7 million and US$5.1 million, respectively.

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