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Ocean Wilsons Holdings Ltd on Friday announced a lower profit in 2022, as it took a hit from the valuation of investments. The investor and operator of Wilson Sons, a maritime services company in Brazil, said pretax profit plunged to $38.1 million in 2022 from $110.4 million in 2021. Revenue grew by 11% to $440.1 million from $396.4 million. However, Ocean Wilsons reported a $47.9 million loss of value in its investment portfolio, compared to a $49.5 million gain. Net asset value per share at December 31 was £18.78, up 18% from £15.95 a year prior. The company declared a 2022 dividend of 70 US cents per share, unchanged from 2021. Looking ahead, Ocean Wilsons said the first quarter of 2023 is similar to the first quarter of 2022 with regards to general uncertainty, supply chains, food security, and armed conflict. Further, Chair Caroline Foulger said: ‘2023 has already been jolted by the effect on the US and global banking sectors from the demise of Silicon Valley Bank and Signature Bank and the current uncertainty around Credit Suisse and possible others. There is much debate as to the mid-term impact of this on financial markets, but what is clear is that there continues to be little expectation of predictability.’ However, Ocean Wilsons said inflation was beginning to decline and interest rates were ‘likely’ nearing their peak. For its Rio de Janeiro-based maritime operator Wilson Sons, the company expects easing of constraints on the global shipping industry, aiming for revenue growth and operating efficiency. Ocean Wilsons shares were 1.7% lower at 894.84 pence each in London on Friday morning. Copyright 2023 Alliance News Ltd. All Rights Reserved.
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