Hoe Leong bounces back into the black with $1.4m profit in Q1
Thanks to its vessel chartering segment.
Hoe Leong posted a net profit of $1.4m in the first quarter, bouncing back into the black after posting a loss of $1.6m in the same quarter last year.
Hoe Leong’s total revenue grew 20.1% during the quarter, driven by higher revenue from its vessel chartering segment.
The group’s vessel charter revenue surged 312.2% to $4.3m million due to a higher utilisation of the Group’s vessels in the quarter.