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CSCL's Q3 results slump to losses

CSCL's Q3 results slump to losses
China Shipping Container Lines (CSCL) reversed into losses in the third quarter ended 30 September 2013 compared to a healthy level of profit a year ago.

The container line recorded a third quarter loss of RMB403.98m ($66.26m) as against a net profit of RMB991.05m in the same period of last year.

Revenue during the quarter dipped to RMB8.96bn compared to RMB9.28bn a year earlier.

In the first nine months of this year, CSCL saw its losses amounted to RMB1.67bn compared to a loss of RMB289.93m in the corresponding period of last year.

Revenue in the nine-month period was flat at RMB24.81bn.

TAGS: Containers