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FSL Trust reports 116.1% y-o-y increase in net profit of US$8.3 mil from gain on vessel disposal

Nicole Lim
Nicole Lim • 2 min read
FSL Trust reports 116.1% y-o-y increase in net profit of US$8.3 mil from gain on vessel disposal
The Trust disposed of its eight and oldest vessel in December 2024, and are focused on identifying new projects.
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The trustee-manager of First Ship Lease Trust (SGX:D8DU) (FSL Trust) has announced a net profit of US$8.3 million ($11.25 million) for the FY2024 ended Dec 31, 2024, a 116.1% y-o-y increase from the same period a year before. 

For 2HFY2024, the group reported a net profit of US$6.9 million. This includes the reversal of impairment on vessels and gain on disposal of vessels. 

FSL’s earnings per unit came in at 0.47 US cents for the full year, a 123.8% y-o-y increase. 

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