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Thai Firm Precious Shipping PLC Sails to Profitability.
Byline: Srisamorn Phoosuphanusorn
Jul. 7--Precious Shipping Plc is on its way to returning to profitability this year with plans to begin expanding its fleet after experiencing accounting losses for seven years in a row.
The country's second-largest dry bulk cargo tramp operator has also pledged to resume dividend payments this year after suspending them since the economic crisis began in 1997.
"We are poised to swing back to a profit in business operations this year in light of a rebound in global freight rates and strong demand in the bulk cargo sector," said managing director Khalid Hashim.
SET-listed Precious Shipping (PSL) reported a net profit for the first quarter of 185 million baht, up 61 percent on the same period last year.
Mr Khalid said it was likely to also post a profit in the second quarter, helped by an increase in operating days for its ships and a bigger leasing market in the bulk segment.
Its recovery also stemmed from the firm's focus on cost controls and strategies to maximise revenues.
- Thai Firm Precious Shipping PLC Sails to Profitability.
- Newspaper article from: Knight Ridder/Tribune Business News July 7, 2003 700+ words
...Business News Jul. 7--Precious Shipping Plc is on its way to returning...Khalid Hashim. SET-listed Precious Shipping (PSL) reported a net profit...With fresh credit in hand, Precious Shipping will be sitting on roughly...
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- News wire article from: Thai Press Reports August 6, 2008 700+ words
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- Thailand: Precious Shipping Plc pays off debt to Krung Thai Bank.
- News wire article from: Thai Press Reports October 13, 2006 700+ words
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- News wire article from: Thai Press Reports March 8, 2007 700+ words
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- Thailand's Precious Shipping Plc expects sharply higher profits.
- News wire article from: Asia Africa Intelligence Wire March 3, 2005 700+ words
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- Precious Shipping Plc. (PSL) : Shipping boom.
- News wire article from: Asia Africa Intelligence Wire October 15, 2003 700+ words
(From Thai Press Reports) Section: Stocks - PSL currently operates 28 bulkers and a cement carrier, representing roughly 660,000 DWT, with an average age of about 16 years. The company plans to buy six more second-hand ships to boost its capacity and revenue in 2005 and this means the fundamental
- Precious Shipping Plc. (PSL) : Smooth sailing.
- News wire article from: Asia Africa Intelligence Wire November 12, 2003 700+ words
(From Thai Press Reports) Section: Stocks - Revenue per ship per day has increased significantly to US$9,120 in 3Q03 from US$7,220. This revenue is expected to hit US$9,350 per day in 4Q03. The company has succeeded in controlling costs and this has been clearly seen since 2Q02, as vessel operating
- Thailand's Precious Shipping Plc (PSL): Share plunge on treasury stock sell-off.
- News wire article from: Thai Press Reports December 15, 2006 700+ words
(From Thai Press Reports) Section: Stocks - Number of shares may rise on 13.39m of treasury stock PSL might sell into market. After PSL reported the sell-off of some its treasury stock (TS), its share price has slumped 13.9% over just three days. The remaining 12.32m in TS that PSL might sell into
- Thailand's Precious Shipping Plc (PSL): 3Q06 net profit beats expectations.
- News wire article from: Thai Press Reports November 9, 2006 700+ words
(From Thai Press Reports) Section: Stocks - Maintain SELL at new target price of Bt37.75. Target price for PSL has been revised up from Bt37.0 to Bt37.75 based on 6x 2007 P/E but maintain SELL rating as the share price of Bt43.75 is 16% above new target price. Note that the 6x 2007 P/E is assigned