Wellard Ltd. Achieves Operational Improvements Despite Net Loss
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Wellard Ltd. reported a net loss of $2.3 million for the half-year ended December 2024, mainly due to one-off costs from acquiring full ownership of the M/V Ocean Drover. Despite a 21.5% revenue decline, the company achieved operational improvements, including a higher gross profit margin and strong cash position. The sale of the M/V Ocean Drover for $50 million is a significant operational shift, pending shareholder approval, aimed at future financial gains. Wellard operates in livestock shipping, focusing on animal welfare and safety.
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