tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Atlantic Navigation Reports Strong Q1 Growth

Atlantic Navigation Reports Strong Q1 Growth

Atlantic Navigation Holdings (Singapore) Ltd. (SG:5UL) has released an update.

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Atlantic Navigation Holdings (Singapore) Ltd. experienced substantial financial growth in the first quarter of 2024, reporting a 46.9% increase in revenue to US$26.1 million and a significant 40.5% rise in net profit after tax to US$6.8 million, compared to the same period last year. This was largely due to an improved fleet utilization rate of 94.3%, expansion with two additional vessels, and higher daily charter rates. Despite a slight drop in profit margins, the company’s earnings per share also saw a 40.5% increase.

For further insights into SG:5UL stock, check out TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1