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Uy-led Chelsea close to recovery, but Dito sinks deeper into red
The Philippine Star
|November 16, 2024
Dennis Uy's logistics venture is close to erasing its net loss on the back of shipping recovery, but his telco is struggling to come out alive from its debt pile.
Between January and September, Chelsea Logistics and Infrastructure Holdings Corp. succeeded in slashing its net loss by 71 percent to P301 million from P1.04 billion a year ago.
Chelsea president and CEO Chryss Alfonsus Damuy said the company is close to wiping out its net loss as a result of debt restructuring and revenue expansion.
The revenue of logistics unit of Davao tycoon's Uy amounted to P6 billion during the period, lifted by double-digit growth across select segments. Passage went up by 20 percent, while chartering improved by 37 percent.
Denne historien er fra November 16, 2024-utgaven av The Philippine Star.
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