SUBSCRIBERS
POSH sails into loss territory as market conditions worsen
Published Tue, Aug 2, 2016 · 09:50 PM
Singapore
A SURGE in expenses coupled with the deterioration of market conditions in the moribund offshore marine sector pushed PACC Offshore Services Holdings (POSH) into the red for the second quarter.
The offshore marine services provider posted a net loss of US$17.5 million for the three months ended June 30, a reversal from the net profit of US$6.1 million it reported for the previous corresponding quarter.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
iPhone maker Hon Hai’s April sales rise 19% in positive signal
Worsening weather is igniting a US$25 billion market
TikTok tells advertisers: ‘We are not backing down’
EV automakers get reprieve in US tax credit rules
Nomura, Mizuho face losses on All Blue fund’s failed trades
Stablecoin Tether steps up monitoring in bid to combat illicit finance