SITC International Holdings Company Limited (SITIY), a shipping and logistics company, on Friday reported a surge in net profit for the first half, helped by increased revenue, mainly due to improved shipping volumes and average freight rate.
For the six-month period to June 30, the company recorded a net income of $629.995 million, higher than $350.674 million in the same period last year. Net profit stood at $0.23 per share as against the prior year's $0.13 per share. Pre-tax income moved up to $643.607 million from last year's $362.378 million.
Revenue was $1.664 billion, up from the previous year's $1.300 billion. This increase in revenue reflects a rise in container shipping volumes and average freight rate.
The container shipping volumes increased to 1,829,665 TEUs from 1,705,164 TEUs a year ago. Average freight rate, excluding slot exchange fee income, rose to $776.4/TEU from $632.4/ TEU in 2024.
For the first half, the Board will pay an interim dividend of HK$1.30 per share on or before September 16 to shareholders of record as of September 4.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.