HUBLine posts financial year net profit of $835,389
Malaysia-based HUBLine swung back to profit in 2012 from a significant loss in 2011, Seatrade Asia online reports. Net profit for the financial year ended 30 September 2012 came up to MYR2.54m ($835,389) as against a net loss of MYR71.63m in the previous year, Seatrade Asia online reports.
Revenue, however, fell to MYR480.37m compared to MYR569.93m a year ago.
“The large variance in group revenue was recorded in the first six months due to the reduction in trading revenue,” Kuala Lumpur-listed HUBLine said.
“The group expects containerised and dry bulk businesses to remain flat in line with challenging general economic conditions. Industry port container volumes are expected to be soft over the short term, and top line sales growth is not expected to be strong in bulky goods transportation sector,” it said.