Danish owner ULTRABULK recorded a gross profit of $12.7m in the six months to the end of June, up from $11.9m at the same stage in 2014. Ultrabulk operating profit of $500,000 marked a swing from the $1.0m loss of a year ago.
Ultrabulk’s bottom line loss of $800,000 was an improvement on the $1.1m red figure last time around. CEO Per Lange said in a statement: “The market in the first half of 2015 proved tougher than expected, but with a fairly balanced book we were able to limit the negative impact. Although the past month showed some improvement we suspect that the rest of the year will remain challenging.”