Speedcast International (ASX:SDA) hit by COVID-19 impact on cruising

Company News

by Rachael Jones

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.