HK-listed container maker Singamas jumps most in 12 years on strong outlook

Singamas Container Holdings

02/07/2021 03:32

** Shares of container manufacturer Singamas Container
Holdings Ltd  0716.HK  jump 30.7% to HK$1.15, marking their
biggest intraday percentage gain since May 2009 and on course
for fifth straight session of gains   
    ** Stock hit its highest since May 2018 and is the ninth
biggest percentage gainer on the Hong Kong bourse 
    ** Co expects a net profit of at least $50 mln for six
months ended June, compared with a loss of $5.33 mln a year
earlier, thanks to stronger container demand and an increase in
the average selling price of dry freight containers  urn:newsml:reuters.com:*:nFWN2OC06U
    ** Says its business performance has improved significantly
in H1 2021 with a significant rise in sales volume and an
increase in gross profit margin for dry freight containers 
    ** The Hong Kong Hang Seng Commerce & Industry Index  .HSNC 
falls 2.3%, and the benchmark index  .HSI  slips 1.4%
    ** As of last close, the stock had surged 60% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))