POSH Q4 loss more than doubles on impairments, revenue fall
Singapore
PACC Offshore Services Holdings (POSH) suffered a massive fourth-quarter net loss of US$345.44 million, more than double the US$149.67 million a year ago, as revenue fell sharply and the group took huge impairments to goodwill and vessels.
Impairment of goodwill was high at US$111.18 million although it was lower than US$127 million a year ago. But impairment on vessels ballooned to US$198.95 million from US$21.44 million.
Loss per share came to 19.06 US cents compared with 8.25 US cents for the year-ago period. For the quarte…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hotel Properties prices 5-year notes at 5.1%
Apple to hold launch event on May 7, with new iPads expected
OUE Reit obtains S$600 million unsecured sustainability-linked loan
US: Wall St opens higher as more earnings roll in
GE Aerospace raises earnings goal on strong engine sales
BRC Asia to buy 19.9% of steel reinforcement company for S$16 million