KUALA LUMPUR: Malaysian Bulk Carriers Bhd recorded a net profit of RM47.65mil for the first quarter ended March 31, compared with net loss of RM10.76mil in the same period last year.
Revenue, however, eased to RM52.27mil from RM64.09mil recorded in Q1 2019.
In a filing with Bursa Malaysia, the group said it recorded a gain of RM51.26mil on liquidation of a subsidiary during the quarter under review. It said the outlook for dry bulk trade deteriorated rapidly in early part of the year. — Bernama