SITC International Holdings(01308) when the interim results were announced, the company's revenue during the period was about US $1.334 billion, an increase of about 79.6% over the same period last year; the gross profit margin increased to about 41.8% from about 21.3% in the same period last year; and the profit during the period increased by about 307.9% to about US $488 million. As of press time, SITC International Holdings rose 6.68% to HK $31.15, with a turnover of HK $184 million.
HSBC Research released a research report, raising SITC International Holdings's target price from HK $50 to HK $52, and expects the company's shipping volume to achieve double-digit growth in 2021-23. The bank said its first-half performance exceeded the upper limit of the company's growth guidance, with EBIT profit margins rising to a record high of 36.8 per cent driven by average freight growth, partly offset by higher costs such as higher fuel prices and chartering fees.