After Losing Billions in 2011, CSCL Will Likely Post Net Profit in 2012
SHANGHAI–China Shipping Container Lines Co. (2866.HK, 601866.SH) said it expects to swing to a net profit in 2012 thanks to recovering demand and freight rates in the shipping industry.
In a profit alert filed to the Shanghai Stock Exchange, the country’s largest container shipper by capacity said late Friday it is expected to register a net profit of approximately 520 million yuan (US$83.5 million) for the 12 months ended Dec. 31. The company reported a net loss of CNY2.74 billion for 2011, it said.
The company is expected to release its 2012 earnings results around the end of March.
Write to Yue Li at [email protected]
(c) 2013 Dow Jones & Company
Sign up for our newsletter
Be the First
Join the 62,320 members that receive our newsletter.
Have a news tip? Let us know.