(Fixes typo in first paragraph)
PARIS May 19 Container shipping group CMA CGM
posted higher profits in the first quarter, helped by improving
results at recently acquired NOL, and said it expects improving
freight rates to boost its operating profits further in the
The French-based group reported on Friday a first-quarter
net profit, including Singapore-based NOL which it consolidated
in June last year, of $86 million compared with a $100 million
loss in the same period of 2016.
This was also above the $45 million net profit it recorded
in the previous quarter when the privately held firm returned to
profit after heavy losses earlier in 2016 during a severe
downturn in container shipping.
(Reporting by Gus Trompiz; Editing by Leigh Thomas)