Singamas back in the black with US$17.2m H1 profit

Singapore

THE Hong Kong-listed container manufacturing subsidiary of Singapore-based liner group Pacific International Lines (PIL) turned around in the first half of this year, thanks to a 45 per cent surge in its revenue mainly due to a jump in container sales and a higher average unit selling price.

Singamas was back into the black with a US$17.18 million profit for the six months ended June 30, 2017, a reversal from a US$38.09 million loss for the year-ago period.

Earnings per share for H1 2017 was 0.69 US cent compared to a loss per share of 1.52 US cent for H1 2016. Revenue rose to US$595.04 million, from US$410.28 million, primarily on a …