Kingston Wharves declares Q1 revenues of $1.85 billion
DESPITE earlier reports of significant declines in both revenue and profit for the 2020 financial year as a result of the contraction in the general economy caused by the novel coronavirus pandemic, Kingston Wharves Limited (KWL) says it was able to regain lost ground in its first quarter ended March 31, 2021. The group achieved consolidated revenues of $1.85 billion for the period under review, a marginal decrease of 1 per cent or $26 million over the previous corresponding period. Net profit was $560.2 million for the quarter under review, a slight decrease of 0.3 per cent or $1.7 million over the corresponding period of 2020 ($561.9 million). Earnings per share for the quarter was 38.30 cents compared to 38.72 cents in prior year. The Terminal Operations Division generated operating revenue of $1.4 billion for the three-month period, a decrease of 6 per cent over the corresponding period of the prior year. Divisional profits decreased by 24 per cent from $595 million to $451 million.
Kingston Wharves declares Q1 revenues of $1.85 billion
DESPITE earlier reports of significant declines in both revenue and profit for the 2020 financial year as a result of the contraction in the general economy caused by the novel coronavirus pandemic, Kingston Wharves Limited (KWL) says it was able to regain lost ground in its first quarter ended March 31, 2021. The group achieved consolidated revenues of $1.85 billion for the period under review, a marginal decrease of 1 per cent or $26 million over the previous corresponding period. Net profit was $560.2 million for the quarter under review, a slight decrease of 0.3 per cent or $1.7 million over the corresponding period of 2020 ($561.9 million). Earnings per share for the quarter was 38.30 cents compared to 38.72 cents in prior year. The Terminal Operations Division generated operating revenue of $1.4 billion for the three-month period, a decrease of 6 per cent over the corresponding period of the prior year. Divisional profits decreased by 24 per cent from $595 million to $451 million.