http://sg.finance.yahoo.com/news/singapores-nol-posts-6th-straight-093914244.html
Singapore's NOL posts 6th straight quarterly net loss
Reuters – 18 hours ago
SINGAPORE, Aug 8 (Reuters) - Singapore's Neptune Orient Lines, the world's seventh-largest container shipping firm, reported its sixth consecutive quarterly net loss mainly due to one-time charges for restructuring and vessels held for sale.
The company posted a second quarter net loss of $118 million, compared with a $57 million net loss a year earlier and a $254 million net loss in its first quarter.
Core earnings before interest and taxes stood at $16 million, helped by improved freight rates and efforts to control expenses and improve efficiency, NOL said.
The one-time charges of $112 million were for organisational restructuring and the sale of obsolete vessels to make room for more efficient ships and to reset vessel slot costs, NOL said.
NOL, whose biggest shareholder is Singapore state investor Temasek, said the outlook remained uncertain. (Reporting by Eveline Danubrata; Editing by Kevin Lim)
The company posted a second quarter net loss of $118 million, compared with a $57 million net loss a year earlier and a $254 million net loss in its first quarter.
Core earnings before interest and taxes stood at $16 million, helped by improved freight rates and efforts to control expenses and improve efficiency, NOL said.
The one-time charges of $112 million were for organisational restructuring and the sale of obsolete vessels to make room for more efficient ships and to reset vessel slot costs, NOL said.
NOL, whose biggest shareholder is Singapore state investor Temasek, said the outlook remained uncertain. (Reporting by Eveline Danubrata; Editing by Kevin Lim)
This is what i think only lor:
I know very well that NOL is losing tons of money...that's why it has been a downtrend stock. i am looking for signs of turning around..not profits.
This quarter, it actually lost 50% less money compared to last quarter. There's a one-time loss of $112 million for oganisation restructuring and sale of Obsolete vessels to make room for more efficient ships. hence, things are starting to improve...Freight rates ( check Baltic Dry Index http://www.investmenttools.com/futures/bdi_baltic_dry_index.htm#bdi) seem to have bottom....
When we assess the financials of a company, we do not include (means discount from Net profits reported) extraordinary items such as sale of property(for a non-property company like Osim), and one-off items...which may not occur in the next or future quarters.
So the actual loss is only $6 million! Turnaround...perhaps.... let's see lor.
When we buy a share, we are actually buying the future earnings.
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