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HomeMaritime NewsRegionsAsiaWan Hai Q1 result sinks into the red

Wan Hai Q1 result sinks into the red

Wan Hai Q1 result sinks into the red
Taipei: Wan Hai Lines sank into the red in the first quarter ended 31 March 2012 amid sluggish conditions in the container shipping market.

Wan Hai, largely an intra-Asia player, posted a first quarter net loss of NT$367.89m ($12.59m) as against a net profit of NT$366.88m in the same period a year ago.

The Taipei-listed company recorded revenue of NT$13.59bn during the quarter, down from NT$15.62bn a year earlier.

The company had failed to generate any income from long-term equity investments as against gains of NT$616.82m in the corresponding period of 2011.

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