China Shipping Development Co (CSDC) has taken lower net profit for the first quarter while revenue rose over the same period last year, Seatrade-asia reports. The Shanghai- and Hong Kong-listed firm took net profit of RMB382.1m ($58.6m) in the first three months of this year, down from RMB409.2m in the corresponding period of 2010. Revenue, however, was recorded at RMB2.4bn during the quarter, up from RMB2.2bn from the previous quarter, the company announced Tuesday.
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