Speedcast International (ASX:SDA) hit by COVID-19 impact on cruising
Speedcast International (ASX:SDA) has reported an NPAT loss of US$460 million for 2019 including US$4143.8 million of non-cash impairment charges and write-downs.
Revenue is up 18 per cent to $US722.3 million on the same corresponding period.
Impacts from global COVID-19 pandemic are being felt across the business; as such, the Company is unable to provide FY 2020 guidance at this time.
The cruise industry has been hit substantially and crusing is a key market segment for Speedcast (ASX:SDA).
Shares in Speedcast International (ASX:SDA) last traded at 79 cents.
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Source: Finance News Network
