Swissco Holdings says net profit for third quarter ended Sep 30, 2011 fell by 85.9% to $2.77 million from a year ago.
If fair value loss and currency translation differences arising from consolidation were included, the company would have made a loss of $2.84 million compared to a profit of $19.31 million a year ago.
Sales surged 1,138.1% to $12.01 million from a year ago.
Swissco says it remains cautious in its vessel renewal and expansion programme. With a reduced fleet and new ship buildings that will take an average 18 to 24 months to complete, revenue from chartering segment for Q411 and FY2012 is expected to be affected.
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