Malaysian Bulk Carriers registers RM21.1m net loss in Q2

PETALING JAYA: Malaysian Bulk Carriers Bhd (MBC) second quarter ended June 30 2015 swung to a net loss of RM21.1 million from a net profit of RM13.8 for the same quarter in the previous year, on depressed dry bulk rates and substantially lower contribution from associate PACC Offshore Services Holdings Ltd.
Revenue for the quarter was down 5% to RM58.1 million, from RM61.5 million for the same quarter the year before.
MBC registered a net loss of RM43.9 million for the six month period, compared to a net profit of RM36.9 million for the same period in 2014.
This was on 17.4% lower revenue of RM109.9 million, compared to RM133.2 million made for the same period in 2014.