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Indiaexportnews.com

Textainer profit up 5pc

  18.08.2009    

Textainer, the world's biggest container rental operator, has made a profit on falling revenues and increased the size of its stock 15 per cent in the first half despite its own prediction that global box numbers will fall five per cent as trade slackens.
As Textainer's quarterly revenues fell 22 per cent year on year to US$54.4 million, the company still increased profit five per cent to $25.6 million, excluding unrealised gains on interest rate swaps.
San Franscisco-based Textainer has completed the purchase of rights to manage the container fleets of Amphibious Container Leasing, Capital Intermodal and Xines, reported London's International Freighting Weekly.
The company has also concluded an accretive purchase leaseback transaction for more than 28,000 containers with a major, un-named Asian shipping line and bought some 29,000 containers it had been managing for a large institutional investor, said the report.




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