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Jinhui Shipping Announces Q1 Revenues Result

Logistic News - Published on Tue, 04 Jun 2019

Image Source: Lloyd's List - Informa
Jinhui Holdings Company Limited in compliance with Rule 13.09 and 13.10 B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part Xiva of the Securities and Futures Ordinance Chapter 571 of the Laws of Hong Kong. Refer to the attached announcement released on 31 May 2019 through the Oslo Stock Exchange by Jinhui Shipping and Transportation Limited, an approximately 55.69% owned subsidiary ofthe Company, in accordance with the regulations of the Oslo Stock Exchange. The principal accounting policies and methods of computation used in the preparation of the attached unaudited consolidated results of Jinhui Shipping and its subsidiaries are in accordance with International Financial Reporting Standards issued by the International Accounting Standards Board, and Hong Kong Financial Reporting Standards issued by the Hong Kong Institute of CertifiedPublic Accountants. Shareholders of the Companyand potential investors are advised to exercise caution when dealing in the shares of the Company.

The Board of Jinhui Shipping and Transportation Limited announced the unaudited condensed consolidated results of the Company and its subsidiaries for ended 31 March 2019.

Q1 Results

Revenue for the Q1 2019 decreased 29% to USD 12,765,000, comparing to USD 17,976,000 for the corresponding quarter in 2018. The Company recorded a consolidated net profit of USD 1,965,000 for current quarter as compared to a consolidated net profit of USD 2,471,000 for the corresponding quarter in 2018. Basic earnings per share was USD 0.018 for the first quarter of 2019 while basic earnings per share was USD 0.023 for the corresponding quarter in 2018.

Interim Dividend

The Board has resolved not to recommend the payment of any interim dividend for the quarter ended 31 March 2019.

Source :

Posted By : Rabi Wangkhem on Tue, 04 Jun 2019
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