Seroja Investments Limited reported unaudited earnings results for the first quarter ended March 31, 2013. For the quarter, the company reported revenue of USD 16,774,000 million against USD 17,015,000 a year ago. Loss before income tax was USD 187,000 against profit before income tax of USD 1,607,000 a year ago. Net loss attributable to shareholders of the company was USD 516,000 against net profit attributable to shareholders of the company of USD 964,000 a year ago. Basic and fully diluted loss per share was 0.13 cents against basic and fully diluted earnings per share of 0.25 cents a year ago. Net cash generated from operating activities was USD 4,132,000 against USD 5,947,000 a year ago. Purchase of property, plant and equipment was USD 1,144,000 against USD 7,198,000 a year ago. Revenue decreased due to lower time charter revenue which is partly offset by higher freight charter revenue for the period under review.

Seroja Investments Limited provided earnings guidance for the first quarter ended March 31, 2013. For the quarter, the company is expecting to report loss as compared to the corresponding period last year. The loss is mainly due to lower gross margin, mainly attributable to lower freight rates as well as higher operating expenses incurred for its fleet of vessels. The profit warning is based on preliminary review of the unaudited financial results of the group.

Seroja Investments Limited announced that they will report Q1, 2013 results on May 14, 2013