SINGAPORE (Yosefardi) – Shipping company Neptune Orient Lines (NOL) Group booked net profit of US$41 million in the first half of 2013 compared to a loss of US$371 million in the corresponding period of 2012.
The profit was attributable to a non-recurring gain of US$200 million from the completed divestment of the NOL headquarter building in Singapore.
NOL reported revenues of US$4.43 billion in the first half, down 6% from US$4.7 billion from the corresponding period of 2012 with 12% decline in the second quarter.
The company’s core EBIT, however, improved from a loss of US$217 million to US$120 million due to improvement in operational efficiency and cost management.