The Samoa Shipping Corporation in financial year 2019-2020 recorded a net profit of more than $300,000 tala a significant drop from $1.8 million in the previous financial year.
The annual report says this is a result over the unprecedented challenges inflicted by the pandemic COVID19 which placed setbacks the domestic operation and revenue of the Corporation.
By the close of the financial year, a significant drop in profit by 82% compared to previous year.
The profit recorded after tax is $332,692 against $1,884,322 in 2019.
The attributing factors was the measles epidemic in November to December 2019 when government declared State of Emergency Orders which ceased domestic sailings for two days to discourage public gatherings.
The government of American Samoa also suspended Lady Naomi sailings and this continued to take a hit as lockdown periods extended.
In March to April 2020 the SOE orders for COVID19 restricted sailings to only three days a week and limiting the number of passengers onboard.
Due to the onset of range of containment measures to address Coronavirus, and like many other businesses this has caused a plunge in our revenue.
