Mixed picture for POSH, Pacific Radiance, FSL Trust

PACC Offshore Services Holdings (POSH) - the most recent offshore & marine (O&M) stock to begin trading on the Singapore Exchange (SGX) - yesterday posted a 57 per cent drop in its second-quarter net profit to US$11.9 million, from US$27.4 million earned in the same period last year.

POSH said this was due to lower operating income, higher expenses and a drop in the share of joint ventures' results.

Asia's largest operator of offshore support vessels (OSVs), which listed in April on SGX, saw its revenue for …