Singapore Stock Market News
First Ship Lease Trust - Another good set of results
StockFanatic
Publish date: Fri, 06 Nov 2015, 01:42 PM
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Good results as expected
First Ship Lease Trust (FSL) reported US$28.4m revenue for 3Q15, which is 3.1% higher QoQ and 20.1% higher YoY.
While net profit is significantly higher YoY, net profit is lower at US$2.8m QoQ (2Q15: US$6.2m) mainly due to
i) higher depreciation from the two Evergreen vessels as the residual value has changed,
ii) a decline in 'other income' from US$1m to S$0.5m and
iii) higher operating expenses incurred on voyages and tanker charters.
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