Imperial Petroleum, owned by Haris Vafias, recorded net income of 19.5 million dollars in Q2 2024, up 2.8 million dollars from Q1 and up 2.7 million from Q2 quarter of 2023 – it is the second-best performance.
For the six months ended June 30, 2024, the company reported net income of 36.2 million dollars, compared to 52.6 million for the six months ended June 30, 2023.
Imperial Petroleum CEO Haris Vafias said that in the second quarter of 2024, the company managed to turn a typically weak seasonal period into its second most profitable quarter to date, as it generated a net profit of 19.5 million.
As he pointed out, “the company took advantage of the excellent performances of the product tankers that were in a strategic position west of Suez, where the market for these vessels remains tight.
We enjoy recurring profitable quarters, a very strong cash base, which is currently close to 190 million, and that gives us great flexibility for further growth.”
“We are confident that we will gradually see an increase in our share price due to our repeated strong results,” he added.
