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Atlantic Navigation Holdings reports FY2022 earnings of US$11.2 mil reversing from previous year’s US$13.2 mil loss

Felicia Tan
Felicia Tan • 2 min read
Atlantic Navigation Holdings reports FY2022 earnings of US$11.2 mil reversing from previous year’s US$13.2 mil loss
Shares in Atlantic Navigation closed flat at 10.5 cents on March 1.
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Atlantic Navigation Holdings (SGX:5UL) , an integrated offshore marine logistics group, has reversed to profitability from its losses in the year before.

For the FY2022, earnings stood at US$11.2 million ($15.1 million), up from the US$13.2 million loss in the year before as revenue and gross profit rose on a y-o-y basis.

For the 2HFY2022, earnings surged over five times to US$4.3 million from US$826,000 in the 2HFY2021 for the same reasons.

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