Lorenzo Shipping attains higher revenues, narrower net loss in 9 months

Lorenzo Shipping Corporation (LSC) posted total revenues of P2.164 billion for the nine months, ending in September, which was P216 million higher than last year's same period while the net loss went down to P78 million from P113 million.

LSC saw container cargo volumes were up by 5.24% which resulted in an increase in revenues by P216 million to P2.164 billion as of September 30. LSC's gross profit reached P24 million, a significant improvement from a negative gross profit last year. Direct costs increased to P2.140 million from last year's P1.972 million mainly due to increases in the volume of container cargo, higher fuel price, and consumption.