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PSE Stock: 2GO GROUP INC (2GO)

vgal0579 · 6 · 6165

vgal0579

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on: Apr 17, 2012, 10:48 AM
« Last Edit: Jun 01, 2012, 12:32 PM by FutureGizmo »


vgal0579

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Reply #1 on: May 24, 2012, 11:03 AM
Shipping firm 2GO Group reports another loss in Q1

LOGISTICS FIRM 2GO Group, Inc., formerly ATS Consolidated, Inc. of the Aboitiz camp, posted another net loss in the first quarter as fuel costs and chartering expenses eroded gains.

Despite higher revenues, the company still recorded a P213.22-million net loss versus a P228.23-million deficit in the same period last year.

2GO booked P3.27 billion in consolidated revenues, up 5.83% from P3.09 million in the same period last year.

“The shipping business contributed P2.3 billion in the total revenues while supply chain added P1 billion,” the disclosure said.

“The local freight business of 2GO Group realized a 14% or P190.2 million increase in revenues versus last year due to the combined increases in volumes and average price,” the disclosure added.

The strong revenues, however, were offset by the higher consolidated cost and expenses that stood at P3.48 billion, 4.82% higher than last year’s P3.32 billion.

This, as operating expenses grew by more than a quarter to P2.50 billion from last year’s P1.98 billion.

“Operating expenses, which consist largely of vessel-related costs jumped 27% or P525.9 million compared last year on account of higher fuel costs and chartering expenses,” the disclosure read.

Fuel costs had amounted to P1.1 billion in 2012 period against P748.9 million last year, it noted.

Last month, the company said it subscribed 12.5 million shares at P1 apiece in its subsidiary NN-ATS Logistics Management & Holdings Co., Inc.

Regulatory documents showed that NN-ATS Logistics Management, a subsidiary of 2GO Group, was incorporated in November last year and has an authorized capital stock of 50 million shares.

Last March, 2GO Group bagged the approval of the Securities and Exchange Commission to change its name from ATS Consolidated.

The change in corporate name comes after its former rival Negros Navigation Co., Inc. bought the company from the Aboitiz family in 2010 for P4.28 billion, according to earlier reports.

Aboitiz Equity Ventures, Inc. has instead diversified into power generation. The conglomerate reported a 27% jump in its income for the first quarter over year-ago levels as its core power business pulled off higher electricity sales while its banking arm enjoyed a profit surge on trading gains.

2GO, for its part, has been aggressively marketing routes to tourist destinations including one between Batangas and Boracay.

Shares of 2GO Group stood unchanged at P1.95 apiece when the stock market closed yesterday. -- Cliff Harvey C. Venzon


git2k9

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Reply #2 on: Feb 06, 2013, 11:31 PM
kamusta na ang 2GO?


kcmendoza

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Reply #3 on: Apr 03, 2017, 06:36 PM
jackpot ang nakakuha ng 2GO na dati mababa presyo nya now since nabili ng SM bigtime na instant gain


denshow10

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Reply #4 on: Apr 08, 2017, 03:14 AM
oo nga swerte nila!!


wilch23

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Reply #5 on: Apr 08, 2017, 12:31 PM
Pwede pa ba bumili?


 


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