Photo by Tima Miroshnichenko from Pexels

ES Group to post net profit for 2024

The group’s ES Jewel vessel was in full operation during the year.

ES Group Holdings Limited reported that it expects a net profit for the financial year 2024 (FY 2024), recovering from a net loss in FY 2023, based on the group’s preliminary data.

In its review of unaudited financial results, the company said the profit growth is attributed to a one-off other income from insurance claims for the breakdown of the group’s ES Jewel vessel.

During the period, ES Jewel was in full operation, and with the absence of the repair and maintenance expenses, the group’s shipping segment generated higher revenue and recorded a gross profit.

Additionally, the group’s new building and repair segment had an improved gross profit and its shipping segment recorded a gross profit over a gross loss for FY2023. 

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

Top News

Stoneweg European REIT starts unit buyback programme
The buyback serves as a flexible, cost-effective capital management tool to enhance returns on equity and NAV per unit.
SGX RegCo reprimands BlackGold Natural Resources directors, CFO over rule breaches
The Singapore Exchange Regulation (SGX RegCo) has issued public reprimands against four senior officers of BlackGold Natural Resources Limited for breaching Catalist Rules.