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Mermaid Maritime returns to profitability in 2QFY2022 due to revenue surge

Felicia Tan
Felicia Tan • 2 min read
Mermaid Maritime returns to profitability in 2QFY2022 due to revenue surge
Cash and cash equivalents as at June 30 stood at US$4.0 million. Photo: Mermaid Maritime
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Mermaid Maritime has reported earnings of US$2.3 million ($3.1 million) for the 2QFY2022 ended June 30, reversing the loss of US$3.2 million in the corresponding period the year before.

Earnings for the 1HFY2022, still stood at a US$5.6 million loss, albeit narrower than the US$7.3 million loss in the year before.

2QFY2022 total revenues surged by 126.8% y-o-y to US$55.4 million.

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