By James A. Loyola Chelsea Logistics Holdings Corporation (CLC) of tycoon Dennis Uy, quadrupled its net income to P405.7 million in the first nine months of 2017 from P102 million pro-forma combined earnings of subsidiaries in the same period last year. In a disclosure to the Philippine Stock Exchange, the firm said the jump in earnings was achieved as Chelsea’s strategic investments continue to deliver while its operations expanded further. “Our investments into better shipping and logistics continued to yield results and create more value for our investors, business partners and other stakeholders,” CLC President and CEO Chryss Alfonsus V. Damuy said. The increase in the CLC’s net income reflects the P168.1 million recognized by the Company as equity shares in the net income of Negros Navigation Co., Inc. and 2GO Group, Inc. through its investments in Udenna Investments B.V. CLC generated total revenues of about R2.3 billion, 9 percent higher from the R2.11 billion combined revenues of its subsidiaries a year earlier. Freight revenues amounted to P646.4 million, a 43 percent year-on-year increase largely from the commercial operations of MV Trans-Asia 12. The vessel only started plying the Manila – Cebu route in August, 2016. Passage revenues also increased… Read full this story
- Guitar Hero tops $2 billion, Activision Blizzard earns $981 million in Q1
- Fortnite earned $100 million on iOS in just 90 days
- Sega profits down, Sammy earnings up
- Red Dead Redemption ships 8 million, Take-Two profits flat, Max Payne 3 MIA
- PS4 Sales Soar Past 22.3 Million Units
- Hearthstone gets serious about esports in 2016 with nearly $2 million in prizes
- ESL increases prize pool for ESL One Dota 2 series to a million dollars
- $3.5 million for a card game? We talk with Exploding Kittens co-creator (correction)
- How King's Candy Crush making 'factory' creates hits
- Premature Evaluation: Software Inc.
Chelsea Logistics quadruples earnings to P405.7 million have 284 words, post on business.mb.com.ph at November 16, 2017. This is cached page on VietMaz. If you want remove this page, please contact us.