LOCAL: PB Towage pulls strong H1 2013
Tug and towage operator PB Towage has experienced ‘a game of two halves’ with a strong H1 2013 followed by a “significantly weaker” H2, according to the financial results, released late last night by parent company Pacific Basin to the Hong Kong Stock exchange.
PB Towage experienced a strong H1 2013 followed by a weaker H2. Credit - PB Towage
PB Towage, which derives a sizeable chunk of its business from PB Towage Australia, generated earnings before interest taxation and depreciation of US$24.2m and a net profit of US$10.5m.
Operating performance stood at US$29.5m, direct overheads at US$19.0m and...
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