- Revenue was weaker falling by 8.7% due to lower contribution since they sold of a vessel and some vessels were in repair
- Net Profit was higher due to a one time US$3.9 mil ship sale gain. Absence of that net profit would have been the same as last year
- There was a larger contribution from their share of associated companies
- Cash holding increases to US$67 mil from the sale of ships
- Due to the sale of ships their non current assets are down from US$188 mil to US$179 mil
- The group will be affected by the loss of the expiry of 2 long term contracts. These are 12BHP ships contracted in 2008 at the lucrative rates. Failure to charter them out at good rates will mean a reduction of revenue.
- CH Offshore is current trading at SGD$0.46 which is ...
CH Offshore announced their Q3 results. Results here.
