Shares in the world's No. 2 shipping container maker, Singamas Container Holdings Ltd , surged more than 10 percent on Tuesday after it more than doubled its second-half earnings on record output and higher box prices.
The stock had risen 10 percent to HK$2.36 as of 0643 GMT. But it has lost 30 percent since the beginning of the year, lagging a 12 percent fall on the blue chip Hang Seng Index .HSI, amid worries over rising steel prices.
Singamas, the largest maker of containers or boxes after Shenzhen-based China International Marine Container (Group) Co , posted a 144 percent rise in second-half net profit to $17.7 million from $7.24 million a year earlier.
The earnings were slightly higher than a mean forecast of $17.41 million from 5 analysts polled by Reuters Estimates.
Its total output rose by 44 percent to a record of 838,638 twenty-foot equivalent units (TEU) in 2007, compared to its maximum annual production capacity of 1.25 million TEUs.
The stock had risen 10 percent to HK$2.36 as of 0643 GMT. But it has lost 30 percent since the beginning of the year, lagging a 12 percent fall on the blue chip Hang Seng Index .HSI, amid worries over rising steel prices.
Singamas, the largest maker of containers or boxes after Shenzhen-based China International Marine Container (Group) Co , posted a 144 percent rise in second-half net profit to $17.7 million from $7.24 million a year earlier.
The earnings were slightly higher than a mean forecast of $17.41 million from 5 analysts polled by Reuters Estimates.
Its total output rose by 44 percent to a record of 838,638 twenty-foot equivalent units (TEU) in 2007, compared to its maximum annual production capacity of 1.25 million TEUs.