SITC International Holdings Company Limited Provides Earnings Guidance for the Year Ended December 31, 2020
January 18, 2021 at 11:00 pm EST
SITC International Holdings Company Limited provided earnings guidance for the year ended December 31, 2020. For the period, the company expects that the Group will experience a substantial increase between 50% to 60% in its consolidated net profit attributable to
shareholders of the Company for the year ended 31 December 2020 as compared to
that for the year ended 31 December 2019. Based on information currently available
to the Company, the Board believes that such increase was primarily attributable to
the combined effect of the increase in demand of container shipping and logistics
services during the year ended 31 December 2020 as compared to the corresponding
period of the year 2019; the Group's continuous expansion into the Asian market;
and the overall improvement of the Group's operating efficiency which resulted
in a decrease in costs per TEU.