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HomeMaritime NewsRegionsAsiaCSDC back in the black with better Q1 results

CSDC back in the black with better Q1 results

CSDC back in the black with better Q1 results
Bulker and tanker owner China Shipping Development Company has continued its turnaround in the first quarter, with a RMB51.9m ($8.28m) profit from a RMB484.2m loss in the previous corresponding period. Revenue also rose significantly to RMB3.2bn from RMB2.6bn previously.

"Since the beginning of 2014, there has been a certain improvement in the domestic and overseas shipping markets. Based on information currently available to the company, it is expected that the Group may record accumulated net profit for the first half year ended 30 June 2014, as compared to a net loss of approximately RMB949m attributable to the equity holders of the
Company for the first half year ended 30 June 2013," the company said in a stock market announcement.

TAGS: Tankers Dry Bulk China
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