Shipping group CMA CGM has announced its results for the first quarter of 2017, a set of financials described as a 'strong performance increase'.
Net income group share stood at US$86m for the three-month period, well up on the loss of US$100m recorded in the same period last year.
Reveune rose 35.9 per cent to US$4.62bn, up from US$3.4bn.
“In the current shipping context, which is still affected by insufficient freight rates, CMA CGM has continued its positive trend begun end 2016, with further improvement in operating margins and net income,' said Rodolphe Saadé, chief executive officer of CMA CGM Group.
'Our strong performance, which once again distinguishes the group, is due to the confidence our clients continue to show in us as a reliable and dependable business partner, as well as to the rigorous operational management of our activities,' he continued. 'For the first time and less than a year after its acquisition, APL has contributed positively to our group’s results.
'Although the shipping industry still faces strong headwinds, we are confident our strategy should allow to improve operational results over the next quarter, leveraging the new Ocean Alliance and maintaining our focus in operational efficiency and innovation to the benefit of our customers,' Saadé added. 'We continue to reinforce our position as a leading player in our industry.'
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