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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.