Cost of sales for 1HFY2023 declined by 16.7% to US$242.0 million, from US$290.5 million in 1HFY2022 in tandem with the lower business activity.
Samudera Shipping Line (SGX:S56
) has recorded lower earnings of US$66.7 million ($88.14 million) for the 1HFY2023 ended in June, a 61.2% decrease from US$171.7 million in 1HFY2022.
The group also recorded a 35.8% decrease in revenue to US$305.9 million, compared to US$476.2 million in the same period a year earlier, as shipping rates normalise in the post-pandemic market.
