Otto Marine issues profit warning

Singapore: Singapore-listed Otto Marine has issued a profit warning to investors as it expects to post a loss for the first quarter of this year.

The group said the loss is primarily due to lower utilisation resulting from the docking of several vessels for survey as required by class rules on a periodic basis over a 5 year cycle, and the re-position and mobilization of some other vessels.

Otto will release its results this Thursday, after trading hours. [12/05/14]

 

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