SINGAMAS CONT earned 76% more for the whole year, with a dividend of 5 cents
SINGAMAS CONT announced its full-year results for the year ending last year, with a net profit of HKD 34.135 million, an increase of 75.61% year-on-year, and earnings per share of HKD 0.0143, with a final dividend of HKD 0.05 per share. Revenue reached HKD 583 million, up 52.38%. Despite strong demand for dry containers, the demand in the tank container market has declined, leading to a significant drop in sales volume and prices. The company will evaluate alternative solutions to mitigate the impact and will continue to focus on high-margin custom container business, particularly energy storage system containers
SINGAMAS CONT ( 00716) announced that as of the end of last year, the annual net profit was HKD 34.135 million (USD equivalent), an increase of 75.61% year-on-year, with earnings per share of 1.43 cents and a final dividend of 5 Hong Kong cents per share.
During the period, the revenue was HKD 583 million, an increase of 52.38%.
The group pointed out that given the ample supply of containers in the market and the gradual resolution of the Red Sea crisis, it is expected that container demand will slow down this year. Despite benefiting from strong demand for dry containers, the decline in demand for tank containers has led to a significant decrease in both sales volume and average selling price, and various alternatives are being evaluated to mitigate the impact on this business unit.
The custom container business maintains healthy growth, especially as energy storage system containers are favored by the new energy industry. Given the higher complexity and technical requirements of energy storage containers, data centers, and containers used for assembling synthetic construction methods, which can bring higher profits, the focus will continue to be on developing such products.
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