Quarter 1

Steamships records less profit in first quarter

In its Half Year Report to the Port Moresby Stock Exchange, the company stated that, “The mid-year economic outlook for PNG presents significant challenges for the country and consequently trading conditions for businesses.

“Uncertainty over the level and availability of foreign exchange remains a downside risk on input costs and potential investment in several of the group’s activities for the remainder of 2016 and into next year.