Mermaid Maritime - Steep losses in 1Q | I3investor

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Mermaid Maritime - Steep losses in 1Q

StockFanatic

Publish date: Tue, 19 May 2015, 10:58 AM

■ Records bigger-than-expected loss of US$16m in 1Q15 as key DSVs are drydocked for long periods

■ Cut FY15/16 earnings to take into account the weak results as well as potentially low day rates

■ Significant contract wins or M&A activities could provide catalysts for the stock

■ For now, maintain HOLD call with lower TP of S$0.23

Mermaid Maritime (DU4)

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