Singapore Shipping Corp posts 59% rise in Q4 net profit
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LISTED shipowner and manager Singapore Shipping Corp (SSC) posted a 59.5 per cent increase in fourth-quarter net profit to US$2.57 million on higher revenue and operating profit.
Earnings per share were 0.6 US cent for the quarter ended Mar 31, compared to 0.4 Singapore cent for the year-ago period.
Fourth-quarter revenue was 10.4 per cent higher at US$11.36 million mainly on higher business volume from the agency and logistics segment.
Full-year profit went up by 22 per cent to US$10.44 million from US$8.55 million.
SSC has proposed a final dividend of one Singapore cent per share.
Its net asset value per share was 20.4 US cents as at Mar 31, up from 18.2 US cents last year.
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SSC closed at 28 Singapore cents on Thursday, down 0.5 cent.
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