Singapore: NOL Group has reported net earnings of $282m for the third quarter of 2010, a US$421m turnaround from the $139m net loss in the third quarter of 2009. NOL said revenue in the third quarter improved 55% to $2.4bn.
The group has now reported net earnings of $283m through three quarters of 2010. It lost $530m during the same period last year.
"Strong demand and an improved rate environment have helped us turn around our performance," said group ceo Ronald D. Widdows. "Our emphasis at this point is on operating efficiency and cost containment to ensure that we maintain our momentum." [20/10/10]
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