ONE doubles annual profit forecast after strong quarterly results
Ocean Network Express raised its full-year profit forecast to $2bn after net profit more than quadrupled in the three months to September, with revenue and volumes rising.
Ocean Network Express (ONE) doubled its full-year profit forecast to $2bn, according to the supplied report. The Singapore-based carrier's net profit for the three months to September more than quadrupled year on year.
For the quarter described as July-October, ONE reported net profit of $1.3bn, compared with $285m a year earlier. Revenue rose 41% year on year to $6.3bn, amid higher rates and volumes.
CEO Till Ole Barrelet said the second quarter delivered a strong performance, the report added.
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