New York-listed Ardmore Shipping Corporation has pushed up earnings in the first quarter as its fleet expanded.
The tanker owner said net profit was $6.7m, against $5.1m in the same period fof 2015, beating estimates by a cent.
EBITDA rose to $18.8m, up from $12.2m, while revenue was boosted by new ship deliveries to reach $43.53m from $29.61m the year before.
Its spot and pool MR tankers earned $18,975 per day, with an average of 24 ships in operation.
CEO
