NOL makes second quarter profit of $3m amidst sale talk

Neptune Orient Lines (NOL) made a net profit of US$3m in the second quarter of this year amidst rumours of a possible sale of the company.

The figure, which excludes the US$887m gain on the sale of APL Logistics, its supply chain management business, contrasts with a US$54m loss posted over the same period last year.

In a webcast, NOL group president and CEO, Ng Yat Chung, addressed talk of a sale, stating: “The company has a duty to consider all options to maximise shareholder value – it is normal conduct of a business. Hypothetically, if I receive a good price for the company, we will always consider selling.”