Highlights:
&bull Turnover for 1H 2021 totalled $94.9 million, 10% higher than 1H 2020. The growth in revenue was mainly due to higher revenue from Logistics, Property management and Ship repair and marine engineering activities, partially offset by lower revenue from Shipping.
&bull Logistics activities accounted for about 76% of the Group&rsquo s revenue in 1H 2021.
&bull Gross profit increased by 119% from $10.7 million in 1H 2020 to $23.4 million in 1H 2021 mainly due to higher charter rates for owned bulk carriers, absence of rental waiver granted to tenants under the Government Rental Relief Framework and higher gross margins.
&bull Other income decreased by 61% to $2.6 million in 1H 2021 was mainly due to lower government grants under the Government Rental Relief Framework and various support measures in relation to the COVID-19 pandemic.
&bull Overall, net profit attributable to equity holders was $6.8 million, 383% higher than 1H 2020 mainly due to higher shipping charter rates and higher profit margins, partially offset by lower government grants