Orient Overseas' Revenue Swells 74% in Q3

MT Newswires Live

2024/10/07

Orient Overseas (International)'s (HKG:0316) revenue for the third quarter ended Sept. 30 rose by 74% year over year to around $3.06 billion, a Monday bourse filing said.

The logistics company's total liftings saw a 3.6% boost with loadable capacity falling by 1.6%.

The overall load factor was 4.2% higher than the year-ago period, with average revenue per TEU increasing by 68%.

From January to September, revenue and total liftings ballooned by 23% and 2.6%, respectively.

Shares of the company closed nearly 7% higher on Monday.

Price (HKD): $112.00, Change: $+6.9, Percent Change: +6.57%

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