You have 3 free articles left this month. Get your free Basic subscription now and gain instant access to more.

Croatia's Tankerska swings to net profit in H1

Author Annie Tsoneva
Croatia's Tankerska swings to net profit in H1 Author: TNG. License: All rights reserved.

ZAGREB (Croatia), August 1 (SeeNews) - Croatian shipping company Tankerska Next Generation [ZSE:TPNG] said it posted a net profit of 4.6 million kuna ($628,000/612,000 euro) in the first half of 2022, compared to a net loss of 5.0 million kuna in the same period of last year due to higher freight rates on the spot market in the second quarter.

Revenue from ships rose to 164.7 million kuna in the first six months of this year from 115.8 million kuna in the like period of 2021, the company said in a filing to the Zagreb bourse on Friday.

Its overall sales revenue increased to 165.1 million kuna from 116.2 million kuna and EBITDA doubled to 60.8 million kuna.

Tankerska Next Generation's fleet consists of six tankers in operation with an overall 300,000 dwt.

Shares of Tankerska Next Generation traded at 48 kuna intraday on Monday on the Zagreb bourse, down 4.0%.

(1 euro = 7.517 Croatian kuna)