[121119.EN.BIZ[ Sinotrans Q3 Profit Slips 6.64pc To US$19.68 Million, But Mum On Sales

SINOTRANS, a Hong Kong-based company principally engaged in forwarding, posted a 6.64 per cent year-on-on year decline in third quarter net profit to CNY599.83 million (US$19.68 million), but made no mention of its quarterly revenue performance.

Operating profit of the Hong Kong-listed company fell 5.79 to CNY8.13 billion.

Sinotrans reported its shipping agency business increased volumes by 3.98 per cent to 19.29 million TEU in the third quarter. Contract logistics was essentially flat year on year, falling by 3.96 per cent to 29.1 million tonnes.

It was a similar pattern across its other logistics, storage, terminals and other transport businesses with some volumes marginally up and others flat or marginally down.

Source : HKSG.