CSAV turns first profit in 8 quarters

South America

Thursday, November 01, 2012

The Chilean liner carrier CSAV said it had an operating profit of $37.3 million in the third quarter, its first positive quarterly result in nearly two years. The line suffered an operating loss of $354.9 million in the third quarter of 2011, highlighting the huge positive swing in financial performance. For the year, CSAV is still in the red, with a $244.6 million operating loss through three quarters, but that loss is a 74.2 percent reduction year-on-year. Revenue h...

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