China Shipping Container Lines (SHA:601866, HKG:2866): Expects Net Loss For 2011

   Date:2012/01/19

China Shipping Container Lines Ltd. (SHA:601866, HKG:2866) expects a net loss for the year ended Dec. 31, 2011 compared with a net profit a year earlier, it said Wednesday.

The expected net loss is a result of weaker demand for international container transportation because of a slow recovery in the U.S. economy, the euro-zone debt crisis and slowing Chinese economic growth, the Hong Kong-listed company said.

A dramatic increase in oil prices and a reduction in container transport fees contributed, it added.
The company didn't specify the net loss but said its net profit for 2010 was CNY4.20 billion, according to Chinese accounting standard.



 

Source:chinesestock.org

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