ONE reports 891% increase in profit

ONE has achieved an astonishing year-on-year rise of 891% in its first half profit, totalling US$6.76 billion, according to the company’s financial results for the second quarter and the first half for the Fiscal Year (FY) 2021, which started on 1 April 2021 and ends on 31 March 2022.

The Singapore-based container line has achieved strong increases in all sectors. ONE highlighted a skyrocketing surge in profit during the July – September period of 715% over Q2 of FY20, which is mainly driven by the continued strong market. ONE’s profit reached US$4.2 billion.

Furthermore, ONE’s revenue was US$7.55 billion during the second quarter of FY21, representing an outstanding growth of 138%, compared to the same period of the previous fiscal year.

Regarding the operational results, the world’s sixth-largest container carrier handled more than 3.18 million TEU during the second quarter of FY21, which translates to a growth of 4% over the corresponding period of FY20.

Source: Container News

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