Chelsea Logistics swings to profit in 9M

Various business units, such as freight, chartering, and logistics, drove revenue expansion.

Chelsea Logistics and Infrastructure Holdings Corp. has reported a profit after tax of $2.64m (PHP 155m) in the first nine months of the year, recovering from last year’s net loss.

According to the company, consolidated revenues grew 15% to $117.09m (PHP 6.876b), thanks to the “solid performance across Freight, Chartering, Logistics, and Food & Beverage segments.”

Chelsea Logistics said this performance reflects the sustained recovery in cargo and passenger volumes, expansion in B2B logistics, and increased vessel deployment. Operational challenges, including extended drydocking, continued to impact vessel availability but were effectively managed.

“This period’s financial turnaround underscores our disciplined approach to cost management and strategic asset utilisation,” said Chelsea Logistics CFO Darlene Agus - Binay.

“By maintaining stable operating expenses and executing a successful loan restructuring that lowered finance costs, we’ve fundamentally strengthened our bottom line,” she added.

PHP1 = $0.017