Phillip Securities Research in a Jan 22 research report says: “Mercator reported 3Q10 revenue of US$34.6 million (-18% y-o-y) and net profit of US$7.5 million (-42% y-o-y). Revenue declined because of the drop in spot market day rates and the renewal of long term contracts at lower rates. Net profit fell sharply because of the decline in revenue as well as higher direct vessel operating and depreciation expenses.
Mercator Lines (S) rated hold
written by Editor on January 25th, 2010 |
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