Intercont (Cayman) Ltd. Reports 8% Revenue Increase and 43% Net Income Decline for First Half 2025
Intercont (Cayman) Ltd. has reported its unaudited financial results for the first half of fiscal 2025, covering the six months ended December 31, 2024. The company's total revenues saw an 8% increase, reaching approximately $13.4 million, compared to $12.4 million in the same period of 2023. This growth was primarily attributed to higher charter days, with reduced operational downtime compared to the previous period, which had been affected by dry-docking and major repairs. The gross profit for the period increased by 14%, amounting to approximately $3.8 million, up from $3.4 million in the same timeframe of the prior year. Despite these improvements, net income fell by 43% to approximately $0.9 million, down from $1.6 million in the same period of 2023. As of December 31, 2024, Intercont (Cayman) Ltd. reported $4.9 million in cash and cash equivalents, a rise from $3.8 million as of June 30, 2024. A significant development for the company was the completion of its IPO on March 28, 2025, which generated total gross proceeds of $10.5 million, with net proceeds of $9,495,024 received after deducting underwriting discounts and other offering expenses.
Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Intercont (Cayman) Ltd. published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW9495010-en) on July 15, 2025, and is solely responsible for the information contained therein.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.