Staff Reporter
,
Singapore
Photo from Freepik.
Improved revenue drove net income higher.
Singapore Shipping Corporation Limited's net income rose 71.9% YoY to US$7.77m in 6M 2024.
The company attributed the improvement to increased interest earnings and revenue growth.
Revenue increased 10.6% to US$25.3m due to higher profits from the agency and logistics segment.
Its foreign exchange gains also swelled to US$2.14m from a US$1.11m loss in 6M2023, driven by the appreciation of Singapore dollar deposits against the US dollar.
No interim dividend was declared for the current reporting period.
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