NOL falls 3% on news of further losses

Singapore

SHARES in Neptune Orient Lines (NOL) fell nearly 3 per cent in trading on the Singapore Exchange (SGX) on Monday, the first day of trade after the company posted another loss-making year last Friday. The shipping line saw its stock price drop three cents, or 2.96 per cent, to S$0.985 after 14 million shares changed hands.

NOL's FY2014 net loss was US$260 million, against FY2013's US$76 million, the quantum jump being due more to the inclusion in FY2013 of a sizeable gain from the sale of its NOL building. But it managed to slash its Q4 net loss to US$85 million from US$137 million a year earlier.