Pacific Shipping (02343) announces annual performance with attributable net profit of USD 132 million, representing a year-on-year increase of 20.4%.

The Pacific Shipping (02343) has announced its full-year performance for the year ending December 31, 2024, with a revenue of $2.582 billion, an increase of 12.41% compared to the previous year. The net profit attributable to shareholders is $132 million, up 20.4% year-on-year, with earnings per share of 2.54 cents. It is proposed to pay a final dividend of 5.1 Hong Kong cents per share. It is reported that the group's core business, with a large scale, contributed $178.4 million (excluding management expenses). The daily average income for the Group's handy-size and super handy-size bulk carriers under time charter equivalent benchmarks were $12,840 and $13,630 respectively, with a 5% increase and a 1% decrease from 2023, and were $1,720 and $710 higher than the daily indices of the handy-size bulk carrier (BHSI 38,000 DWT (adjusted)) and super handy-size bulk carrier (BSI 58,000 DWT). This reflects the challenges faced by the group in optimizing the configuration of the super handy-size bulk carrier fleet in 2024 and maintaining their excellent performance.