Penguin International has reported earnings of $12.4 million for the 2HFY2021 ended December, 33% higher than earnings of $9.3 million in the corresponding period the year before.
The company’s earnings for the FY2021, however, fell 4.1% y-o-y to $12.7 million.
Earnings per share (EPS) stood at 5.61 cents and 5.75 cents for the 2HFY2021 and FY2021 respectively, from EPS of 4.22 cents and 6 cents in the 2HFY2020 and FY2020.
2HFY2021 revenue increased by 30.7% y-o-y to $90.5 million due to the higher number of stock vessels sold and an increase in chartering activities over the period.
Gross profit for the 2HFY2021 increased by 18.8% y-o-y to $24.8 million, although gross profit margin (GPM) fell 2.7 percentage points to 27.4% on the back of lower margins from shipbuilding activities.
The lower other income y-o-y was due mainly to fewer fleet vessels sold during the latest period and lower contribution from the various Covid-19 support schemes.
As at end-December, cash and cash equivalents stood at $19.0 million.
A final dividend of 2.25 cents per ordinary share has been declared.
Shares in Penguin closed 2 cents lower or 3.03% down at 64 cents on Feb 24.
Photo: Penguin
