Lower finance expenses pull Rickmers' Q3 profit up 59%

RICKMERS Maritime, a Singapore-based business trust that owns and operates container ships, said third-quarter net profit jumped 59 per cent on lower finance expenses.

Net profit rose to US$13.1 million from US$8.2 million a year earlier, the company said in a statement yesterday. Revenue grew one per cent to US$36.6 million.

"Given hopes of an expected beginning of recovery in the container shipping industry next year, we will continue strengthening our balance sheet, positioning us to capitalise on growth opportunities as and when they arise," Thomas Preben Hansen, chief executive of Rickmers Trust Management, said.