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TA charts look bearish for now...
Hi All,
Please refer to the news below, although NOL make the profit for second-quater, but the share price drop due to rising cost of the fuel price, the news NOL CEO David Lim unexpectedly left NOL without giving a reason and the analysts warned that the rise of NOL share price may be overdone. for more details please read below:
SINGAPORE, Aug 8 (Reuters) - Neptune Orient Lines <NEPS.SI>, the world's eighth-biggest container shipping firm, reported a 38 percent rise in quarterly profit and said it expects that it will be able to charge its customers more amid strong demand.
Singapore's largest shipping firm, which is controlled by state investment firm Temasek [TEM.UL], earned second-quarter net profit of $93 million, compared to $67 million a year earlier.
Quarterly revenues climbed 11 percent to $1.81 billion. The company had warned investors in May that it was worried about rising costs, particularly volatile fuel prices. Quarterly expenses rose as fast as sales, up 11 percent to $1.54 billion.
NOL is expected to report a 3 percent rise in full-year 2007 net profit to around $376 million, according to the average of forecasts from 10 analysts polled by Reuters Estimates. First-half net profit fell 27 percent from the previous year to $136 million as revenues climbed 5 percent to $3.7 billion.
The company appointed Thomas Held as its new CEO after his predecessor David Lim, a former Singapore government minister, unexpectedly left NOL after three years without giving a reason.
Shares in NOL have more than doubled since the start of the year from just over S$2 to more than S$5 as investors expect the global container shipping industry to recover from last year's drop in prices for container shipments. But some analysts have warned that the rise may be overdone and that NOL and rivals such as Maersk Sealand <MAERSKb.CO> and Evergreen Marine <2603.TW> will continue to face tough markets as new, much larger ships enter the market, causing the supply of ships to exceed demand.
Same question that I want to raise leh. How come ah? Anyone has any info?
Why the stock price drop when the result is good?
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_93BE06DDB264F8D448257330003D05D2/$file/NOL_Q2_2007_Financial.pdf?openelement
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_93BE06DDB264F8D448257330003D05D2/$file/2Q07_Press_Release.pdf?openelement
Very good~