Besides booking losses from unfavourable foreign exchange movements, Oceanus explains that it incurred higher costs in its bid to "prime itself for significant value-adding and growth opportunities in 2024".
Oceanus has reported a record revenue of $233.6 million for FY2022, up 66% over the preceding year ended Dec 2021, as the company ramped up its distribution business.
However, it incurred a loss of $7.4 million for 2HFY2022, versus earnings of $2.5 million in the year-earlier period. This brings its full-year loss to $8.4 million, versus earnings of $7 million for the whole of FY2021.
