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Hot stock: NOL drops after announcing pre-tax losses for three years

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Shares in Neptune Orient Lines (NOL) climbed to a high of S$1.065 in early trading on Wednesday on the news that it plans to divest its logistics business.

NEPTUNE Orient Lines (NOL) fell 0.04 cent within the first half hour of trading on Monday, and was one of the top-traded stocks.

On Friday, it gave notice that it had recorded pre-tax losses for three consecutive years. For the full year of 2014, the national shipping line's net loss more than trebled to US$260 million from US$76 million. Its full-year pre-tax loss was US$216.9 million, against 2013's US$15.8 million.

As at 9.37am on Monday, it was trading at 97.5 cents.

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