CH Offshore Swings to Profit in H2 2024 on Higher Vessel Utilization

MT Newswires

02/26

CH Offshore (SGX:C13) posted an attributable profit of $584,000 for the six months ended Dec. 31, 2024, reversing a $4.2 million loss a year earlier, as vessel utilization improved, according to a Tuesday filing on the Singapore Exchange.

Earnings per share stood at $0.0008, compared with a loss of $0.006 a year ago. Revenue fell 26.8% to $11.4 million.

The company remains cautious on geopolitical and trade risks but will stay focused on its oil and gas operations. It is working toward meeting financial exit criteria under the Singapore Exchange's watch-list rules.

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