Ocean Carrier CMA CGM Boosts Profit

Jason Alden/Bloomberg News
French firm CMA CGM, the second-largest container carrier, reported a sharp increase in second-quarter results.

Net income rose 67% to $156 million, CMA CGM reported, despite a 2.1% drop in revenue to $4.11 billion.

The company took advantage of falling oil prices to lower unit costs by 11% and boost profit margin to 7.9% from 4.9%.

The stronger profit announcement at the Marseilles-based company outpaced larger rival Maersk Line, whose earnings in the same quarter fell 7.3% to $507 million.

The third-quarter outlook called for volatility in freight markets, particularly between Asia and Europe. 


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