CIMC Forecasts Profit to Balloon Up to 677% in Q1

MT Newswires Live

04/16

China International Marine Containers or CIMC (SHE:000039, HKG:2039) forecasts its attributable profit to surge 438% to 677% to between 450 million yuan and 650 million yuan in the first quarter from 83.6 million yuan in the year-ago period.

Basic earnings per share at the logistics equipment company are seen to increase to between 0.0796 yuan and 0.1168 yuan from 0.0126 yuan in the year-ago period, according to a Tuesday filing with the Hong Kong bourse.

The foreseen surge is attributable to orders received in 2024 and the lower base in the year-ago period, as well as a flexible foreign exchange hedging strategy, the filing said.

CIMC plans to release Q1 results by the end of April.

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