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An update from Singamas Container Holdings ( (HK:0716) ) is now available.
Singamas Container Holdings Limited has issued a positive profit alert, projecting a significant increase in its profits for the year 2024, amounting to not less than US$30 million compared to US$19.4 million in 2023. This anticipated growth is attributed to heightened demand for dry freight containers due to the Red Sea crisis, increased export activities from Mainland China, and a rise in container vessel deliveries, which have collectively boosted production utilization and profit margins. Additionally, the company’s leasing business and demand for customized containers, particularly for energy storage, have contributed to this positive performance outlook.
More about Singamas Container Holdings
Singamas Container Holdings Limited is a company incorporated in Hong Kong with limited liability, primarily involved in the manufacturing and leasing of containers. The company focuses on dry freight containers and customized solutions such as energy storage system containers, catering to global shipping demands.
YTD Price Performance: 2.27%
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $217M
For an in-depth examination of 0716 stock, go to TipRanks’ Stock Analysis page.
