The Clap
Maridive (MOIL) has decreased their losses to $10.7 million in Q1.
The Deets
Maridive has recorded a loss of $10.7 million for Q1, a decrease from $19.8 million in comparison to last year.
Revenues have gone down to $20.5 million in Q1 2022 from $37.7 million in Q1 2021. Expenses have also decreased from $45.3 million to $23.9 million.
Why is Maridive struggling?
Following the outbreak of the pandemic in 2020, Maridive had witnessed enormous losses due to the disruption in shipping of all commodities and components.
This all falls as part of the global supply chain crisis. In 2020, they had a $142.2 million loss. In 2021, they recorded a $78 million loss. This indicates improvement, but the road to recovery is still long.
Maridive still losing despite comeback 🚢
