Uni-Asia Group has reported earnings of US$0.6 million for the 1HFY2025 ended June 30, a reversal from the net loss of US$11.7 million reported in the same period a year ago.
The group’s total income for the year grew 63% y-o-y to US$18.2 million, driven by positive investment returns in the first half of the year.
This is compared to an investment loss of US$12.3 million reported in the same period a year ago due to a non-cash fair valuation loss on its property investments in Hong Kong.
Charter income saw a 25% y-o-y decrease to US$11.9 million as a result of the disposal of older vessels and an increase in off−hire days due to scheduled dry dockings and the unexpected collision of the M/V Glengyle on 25 April 2025.
However, this was partially offset by a marginal improvement in the average daily charter rate, which rose to US$10,840/day from the US$10,699/day in 1HFY2024.
Fee income rose by 8% y-o-y to US$2.0 million, bolstered by higher arrangement and agency fees from new property deals in Japan and a one-off ship brokerage commission.
Total operating expenses decreased 23% y-o-y to US$16.2 million due to an offset by a 10% increase in employee benefits expenses.
Cash and bank balances at end of June decreased to US$38.4 million due to significant capital outlays on a new vessel and deposits for another vessel.
The board has declared an interim dividend of 1 cent per ordinary share for 1HFY2025.
Shares in Uni-Asia closed flat at 79.5 cents on Sept 26.
