From Reuters via gCaptain:
PARIS, March 12 (Reuters) – Container shipping group CMA CGM said on Friday that it expected activity to remain strong in the first half of this year after brisk demand for consumer goods boosted its profits at the end of last year.
France-based CMA CGM said its fourth-quarter earnings before interest, tax, depreciation and amortisation (EBITDA) reached $2.23 billion, compared with $1.01 billion in the year-earlier period.
Quarterly group net profit came to $1.0 billion. That took annual net earnings to $1.755 billion, against a net loss of $229 million in 2019 when the acquisition of CEVA Logistics had weighed on earnings.
CMA CGM, privately controlled by the Saade family, is one of the world’s largest container lines and competes with firms including market leader Maersk....
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