Chelsea Logistics and Infrastructure Holdings Corp.’s recovery is expected to start in the latter part of 2021 as its net loss expanded in the third quarter. In a disclosure, the Dennis Uy-led logistics company reported that its net loss widened to P1.32 billion in July to September from P288.41 million a year earlier. For the first nine months, Chelsea incurred a net loss of P2.601 billion, wiping out its P20-million profit in the same period in 2019. Its topline dropped by 35 percent to P3.325 billion from P5.154 billion in the nine months ending September. Chelsea Logistics shares decreased by 21 centavos or 3.56 percent to finish at P5.69 apiece on Wednesday.

Source: Manila Times November 18, 2020 16:38 UTC