Subscribe to RSS feedTax costs drag TT-Line into the red but debt reined in
TASMANIAN-owned ferry firm TT-Line has seen operational profit of $6.7m dragged down to a loss of $2.4m due to taxes on ship revaluation and fuel hedge derivatives, but the company should be debt-free in the next financial year.
The loss, reported in the company’s annual report, took the gloss from a promising financial year which saw total revenue increase to $175.6m from $166.9m.
Chief executive Charles Griplas said the $8.3m tax expense was a non-cash item and did...
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