SUBSCRIBERS

POSH Q4 loss more than doubles on impairments, revenue fall

Published Tue, Feb 21, 2017 · 09:50 PM
Share this article.

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.

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to  t.me/BizTimes

Companies & Markets

SUPPORT SOUTH-EAST ASIA'S LEADING FINANCIAL DAILY

Get the latest coverage and full access to all BT premium content.

SUBSCRIBE NOW

Browse corporate subscription here