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RCL back in black, posts US$1.8 million profit despite 8pc revenue decline
THAILAND's Regional Container Lines (RCL) has posted a third quarter profit of THB60 million (US$1.83 million), erasing a year-on-year loss of THB222 million, despite an eight per cent decline in quarterly revenue to THB3.2 billion.
Profits were attributed to stringent cost control, realignment of services and fleet deployment, as well as selective product led to operating gains of THB50M in the third quarter this year.
The cost of freight and operations in the quarter decreased by 16 per cent year on year to THB2.8 billion "mainly due to the decline in fixed cost, bunker cost and the lifting," RCL said in the statement.
The final figure was enhanced by a gain on sales of fixed assets, but offset by mild exchange losses of THB32M. This is despite a nine per cent decrease in liftings to 474, 594 TEU.
Profits were attributed to stringent cost control, realignment of services and fleet deployment, as well as selective product led to operating gains of THB50M in the third quarter this year.
The cost of freight and operations in the quarter decreased by 16 per cent year on year to THB2.8 billion "mainly due to the decline in fixed cost, bunker cost and the lifting," RCL said in the statement.
The final figure was enhanced by a gain on sales of fixed assets, but offset by mild exchange losses of THB32M. This is despite a nine per cent decrease in liftings to 474, 594 TEU.
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