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Taiwan ocean carrier Evergreen has posted a loss of USD224 million for Q3 this year, compared to a profit of USD45 million in the same period in 2008.
It saw its Q3 revenue plunge by 34% compared to the same period last year, down to USD348 million - although operating profit EBIT reached USD13.8 million, a distinct improvement on last year' operating profit, which was in the red at -USD7.1 million. Its return on sales for Q3 2009 was 0.03%.
A reason behind why - despite the downturn - Evergreen's operating profit was an improvement on last year is that it has managed to slash its operating costs by almost half, from USD495 million to USD299 million.
Its revenue and operating profit are up on Q1 andd Q2 this year, which is encouraging - but net loss is far worse, deepening from a deficit of USD84 million in Q1 to the current loss of USD2254 million.
For the first nine months of this year, Evergreen posted a net loss of USD224 million compared to a profit of nearly USD46 million last year. Revenue plunged to USD347 million compared to USD534 million in Q3 last year.
Source:ci-online |
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