CHELSEA Logistics and Infrastructure Holdings Corp.’s attributable net loss narrowed to P2.53 billion in 2022 from P3.91 billion in 2021, after posting higher revenues.

The company’s top line rose to P6.43 billion, 43.9% higher than the P4.47 billion recorded previously. Cost of sales likewise increased by 15.5% to P5.67 billion from P4.91 billion in the previous year.

Gross profit for 2022 amounted to P763 million, turning around from a loss of P439 million in 2021.

Chelsea’s other operating expenses grew by 1.8% in 2022 to P1.11 billion from P1.09 billion in 2021.

Chelsea’s subsidiaries include Chelsea Shipping Corp., Trans-Asia Shipping Lines, Inc., TASLI Services, Inc., Worklink Services, Inc., Starlite Ferries, Inc., and The Supercat Fast Ferry Corp.

On Monday, shares in Chelsea declined by a centavo or 0.85% to P1.16 each. — Justine Irish D. Tabile