NOL feels consequences of financial crisis
Due to declines in turnover as a consequence of the financial crisis and high restructuring costs the globally acting transport and logistics group Neptune Orient Lines (NOL) registered a clearly negative result in the 4th quarter of 2008. While sales revenues amounted to USD 2.29 billion, outflow amounted to USD 149 million, as the Management announced yesterday in Singapore. In 2008 the NOL Group has reported an annual net profit of USD 84 million, while revenue showed a 14% year-on-year increase to USD 9.28 billion. Thus the figure of the previous year (USD 523 million) was clearly missed. Established in container shipping, the APL agency transported 2.47 million FEU (Forty-foot equivalent unit) in the reference period, which is 5 per cent more than in 2007. The growth area was the intra-Asian routes. The annual turnover of APL rose 19 per cent to USD 7.95 billion. Quelle: Österreichische Verkehrszeitung |