Navios Maritime Holdings Inc said today that its third-quarter profit was submerged over 30 percent below last year's, as sales sunk more than 55 percent.
The Greek drybulk shipper reported that revenue in the quarter dove down to $160.6 million from $363.3 million one year ago. The profit for three months ended September 30 was $21.3 million, or 21 cents per share, compared with last year’s profits of $30.7 million, or 29 cents a share.
Despite the news, Navios’ shares floated up 18 cents, or 2.9 percent, to $6.47 in afternoon trading.
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