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The company was profitable, but it was 67% less. Why did so many investors rush to sell and lose a lot of money?
Samudera Shipping Line reports 1HFY2024 earnings of US$21.0 mil, 68.3% lower y-o-y
Samudera Shipping Line has reported earnings of US$21.0 million ($28.2 million) for the 1HFY2024 ended June 30, 68.3% lower y-o-y.
Revenue fell by 27.1% y-o-y to US$223.0 million due to lower revenues from the group&rsquo s container segment and partly offset by higher contributions from the bulk and tanker as well as the logistics segments. Container revenue fell by 30.4% y-o-y to US$202.5 million due to lower container volume and a decline in freight rates.
Container volume for the 1HFY2024 fell by 2.4% y-o-y to 879,000 TEU (or twenty-foot equivalent unit) while average revenue per TEU fell by 28.8% y-o-y to US$230 due to contracted freight rates compared to the 1HFY2023.
Bulk and tanker revenue rose by 63.6% y-o-y to US$12.7 million mainly due to the addition and deployment of a liquefied petroleum gas tanker and two ethylene gas carriers to the group&rsquo s fleet.
Logistics revenue rose by 8.2% y-o-y to US$7.8 million due to higher third-party and fourth-party logistics business activity from existing and new clients in Indonesia.
Logistics storage capacity increased by 13.1% y-o-y to 148,500 pallet positions. Volume handled rose by 71.5% y-o-y to 971,100 pallet equivalents in the 1HFY2024. The higher volume was mainly due to new customers.
Gross profit fell by 55.5% y-o-y to US$28.4 million
Other operating income fell by 77.4% y-o-y to US$1.7 million due to lower foreign exchange (forex) gain of US$0.4 million and due to the absence of a US$3.3 million gain on consolidation recorded in 1HFY2023. The gain came after the group acquired a 50% stake in the third-party logistics subsidiary in Indonesia.
Profit from operations fell by 67.0% y-o-y to US$20.4 million.
The group has declared an interim dividend of 1 cent per share, which is lower than the 2 cents per share declared in the corresponding period the year before.
The dividend will be paid on Aug 21.
As at June 30, cash and cash equivalents stood at US$311.2 million.
Agree, wait for tom.
Cheers, happy trading.
Cheers, happy trading.
Slowturtle ( Date: 30-Jul-2024 09:24) Posted:
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Cosco Shipping listed over at SGX has no shipping biz
Only logistic
Just commenting
Only logistic
Just commenting
Stocky901 ( Date: 30-Jul-2024 09:56) Posted:
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Next will be COSCO Shp? 😟 😳
I think investors have to understand that there will be a lag before earnings start to reflect the current increase in freight rates.. this is just like the case when earnings are not immediately reflected when rates hit 5 digit, back in abt 1+, 2+ year ago.. investors have to be more concern about the long terms earnings sustainability instead of punting on the freight rates.. if samudera can make decent eps in low freight rates environment, then anything else is a bonus
got 30 lots at 80.. try try!
Drop like stone
The 2H2024 results are indeed surprising.
The business update is good, profitable but profit level disappoints
Looks like have to hold onto this shipping share till the next reporting.
Take the dividend in the meantime.
The business update is good, profitable but profit level disappoints
Looks like have to hold onto this shipping share till the next reporting.
Take the dividend in the meantime.
May drop back to $0.75 cents, as at March 2024.
1 earnings report,
90+ M mkt cap gone with the wind
sbl kateks make til nose bleed
90+ M mkt cap gone with the wind
sbl kateks make til nose bleed
Wait till it drops to sub-80c then buy. Miserable 1c dividend only.
This result was expected according to me. Good time to buy and keep for the coming quater results.
Cheers. Happy trading.
Cheers. Happy trading.
francisd ( Date: 10-Jul-2024 16:42) Posted:
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The share price went up the past few days because 'someone' knows a posting in straits times is coming. Now they are stuck....these people will have to dump even if contra loss....just be careful.
By the way, a few weeks ago the share price has a drastic fall.... Now you know why people dump....they already know the preliminary result...
By the way, a few weeks ago the share price has a drastic fall.... Now you know why people dump....they already know the preliminary result...
Samudera ( Date: 06-May-2024 10:41) Posted:
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Only 1 cent dividend? What a joke!
HuatAh7898 ( Date: 29-Jul-2024 23:46) Posted:
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good chance to enter.. usually after results this type of selloff occurs..
Had highlighted earlier
Samudera is regional
Cannot simply compare using International Container Shipping rate
Just like the coal price for Geo. Need to know the exact type of coal and which country pricing to use
Samudera is regional
Cannot simply compare using International Container Shipping rate
Just like the coal price for Geo. Need to know the exact type of coal and which country pricing to use
Jump water, omg
trader1970 ( Date: 29-Jul-2024 23:10) Posted:
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Buy on rumour and sell on fact happening now?
Dyodd...same set of lack luster results for 1h2023 it dived to $0.70 over about 4 5 months ...something smells out of the norm with even the worst water stock in Hutchinson port trust achieving 62% increase in revenue and this a drop