Journal of Commerce--APL Logistics is taking a “cautious” outlook for the rest of the year and into 2012, despite a strong first half-year performance and growth in emerging markets and automotive logistics.
The logistics division of Singapore’s Neptune Orient Lines Group was the standout performer when the company reported half-year results earlier this month.
With its APL liner shipping operation under pricing pressure in key markets, NOL posted a net loss of $57 million in the period, compared with a $1 million profit in the first half of 2010. But APL Logistics saw core earnings before interest and taxes rise 22 percent year-over-year to $33 million, as revenue increased 18 percent to $682 million.
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The logistics division of Singapore’s Neptune Orient Lines Group was the standout performer when the company reported half-year results earlier this month.
With its APL liner shipping operation under pricing pressure in key markets, NOL posted a net loss of $57 million in the period, compared with a $1 million profit in the first half of 2010. But APL Logistics saw core earnings before interest and taxes rise 22 percent year-over-year to $33 million, as revenue increased 18 percent to $682 million.
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