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CIMC expects 55% drop in H1 net profit

Jul. 18, 2012 (China Knowledge) - China International Marine Containers (Group) Co Ltd <000039> <200039>, the world's largest shipping container maker, announced yesterday that it expects its net profit to drop between 55% and 75% YoY in the first half of 2012, source reported.

The net profit for the six-month period will be between RMB 701.91 million and RMB 1.26 billion, less than RMB 2.81 billion it realized in the first half of 2011.

The company said that, the huge decrease of net profit is mainly caused by the declining order and container price.

In the first quarter of this year, the shipping container maker realized RMB 12.35 billion in operating revenue, down 27.58% YoY, while its net profit plunged 72.37% from a year earlier to RMB 375 million, China Knowledge reported earlier.

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