Subscribe to RSS feedGlobal downturn hits Sinotrans bottom line
by
Keith Wallis, Hong Kong
—
last modified
Apr 14, 2010 04:02 PM
THE CONTINUING economic downturn led Chinese freight forwarding and shipping company Sinotrans to post a decline in net profit to Yuan424.6m (US$62.4m) last year, down from Yuan568.6m a year earlier.
Revenue at the Hong Kong-listed company fell to Yuan27.6bn in 2009, against almost Yuan35.1bn in 2008.
Freight forwarding remained the key profit and revenue driver generating an operating profit of Yuan310.7m on revenue of Yuan22.5bn, a 23.2% fall in revenue...
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