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STX Pan Ocean poised for fruitful quarter

STX Pan Ocean poised for fruitful quarter

Singapore: STX Pan Ocean expects to announce strong results for the quarter ending March 31, 2008. Despite worries of a downward spiralling global economy, it has estimated that its sales and operating profits will be in the region of $2.2bn and $300m respectively. It also anticipates that sales from the full year will emerge at about $8.3bn.

The company has said that this forecast is based on the business plan for 2008 in compliance with requirements under International Financial Reporting Standards as well as the forecast performance of each division.

In a statement to the press, STX Pan Ocean said, "The actual results may differ from the forecast results depending on the shipping market conditions." [28/03/08]