JOC Staff | Aug 15, 2012 3:55PM EDT
Brazilian terminal operator and maritime logistics firm Wilson Sons Limited reported a net loss of $4.6 million in the second quarter of 2012, versus a profit of $13.7 million in the same quarter a year ago, as currency depreciation and lower cabotage and transshipment volumes at its container terminals had a negative impact on its results.
Net revenues for the quarter were $154 million, the company said, down 15.5 percent compared to the same period last year, when the company posted revenues of $182.3 million.
Cezar Baiao, CEO of operations in Brazil, said in the company’s earnings release that the second half of the year has usually been stronger for the company, but “the uncertain economic environment and currency movements” could still have a negative impact on the group’s full-year results.