HK-listed Singamas hits over 4-yr high on robust earnings outlook

Singamas Container Holdings

17/01/2022 04:47

** Shares of containers manufacturer Singamas Container
Holdings Ltd  0716.HK  jump as much as 21.8% to HK$1.23, the
highest since September 2017 
    ** Stock set for the biggest daily percentage gain since 
June 30, 2021, and on track for second session of gain
    ** Co expects to post $180 mln profit for 2021, as compared
to $4.58 mln profit in 2020, due to increase in sales volume and
gross profit margin on growth in container demand and a hike in
price of dry freight containers amid global supply chain
disruption  urn:newsml:reuters.com:*:nFWN2TV06C
    ** Says profit improvement is also led by a fast-growing
demand of customised containers, such as those related to
renewable energy and environmental protection
    ** Annual results are expected to be announced in March 2022
    ** Hang Seng Commerce & Industry Index  .HSNC  slips 0.7%
    ** The Hang Seng China Enterprises Index  .HSCE  eases 1%
and the benchmark Hang Seng Index  .HSI  is down 0.6%


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