During 1HFY2023, the Group’s vessel, ES Jewel, had to undergo various repairs as well as scheduled docking, which resulted in a significant increase in repair and maintenance expenses and holding cost, as well as a decrease in revenue.
In 1HFY2024, ES Jewel was in full operations throughout the period. With the absence of the aforementioned repair and maintenance expenses, the shipping segment generated higher revenue and gross profit for the company.
Further details will be disclosed when the company announces its 1HFY2024 results on or before August 14.
Shares in ES Group closed flat on Aug 1 at 4.9 cents.
