Solid growth for Pan-United


Singapore: Singapore’s Pan-United saw third quarter net profit grow 45% year-on-year to $34.3m driven by higher contributions from the Basic Building Resources (BBR) division, improved performance from the shipping division and the disposal gain of $2.2m from the sale of vessels in the second quarter.

“The overall cargo throughput at our Changshu Xinghua Port remained firm with higher volumes from logs, and pulp and paper,” the company said in a statement to the Singapore exchange, adding: “Higher vessel utilisation and trading activities resulted in a significantly lower operating loss in the Shipping division for the period.”  [07/11/12]

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