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CMA CGM reports $361 million profit

Markets

Tuesday, March 19, 2013

French liner carrier CMA CGM said it had a net profit of $361 million in 2012 compared to a loss of $5 million in 2011. Consolidated revenue rose was $15.9 billion, 7 percent higher than the $14.9 billion in 2011. The company said it carried 10.6 million TEUs, 6 percent more than the 10 million TEUs carried in 2011. The company said during the year it successfully implemented its "action plan," which has generated $800 million savings, well ahead of the initial target...

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