Ocean Wilsons Holdings Limited reports 7% lower revenue in Q3FY19

  • Nov 13, 2019 GMT
  • Team Kalkine
  • Ocean Wilsons Holdings Limited (OCN) has released its third-quarter update for 2019.
  • For the three months period ended 30 September 2019, the Group revenue stood at US$106.1 million, 7 per cent lower as compared to US$114.1 million in the comparative period of 2018.
  • The decline in revenue was mainly due to a decrease in revenue at container terminals, reduced shipyard revenues and lesser logistics revenue due to the accomplishment of a specific high-volume deal.
  • The group’s Container terminal revenue for the quarter was 8 per cent lower than the prior-year at US$44.5 million, while the Towage revenue stood at US$42.8 million higher by US$1.9 million than the third quarter of 2018.

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