News / ONE chalks up another $4bn profit in Q2 and expects $12bn for the year

ONE Machinac Nansha Port China Source ONE

Japanese ocean carrier Ocean Network Express (ONE) said it now expects a net profit of nearly $12bn for its financial year ending 31 March 2022, following a $3.5bn surplus the year before.

ONE posted a profit of $4.2bn for its second quarter, for an H1 result of $6.76bn, but said although cargo demand was still strong, it expected some “volume decrease” around Chinese New Year and anticipates $5bn of profit for H2.

Revenue for Q2 was $7.6bn, up 125% on the year ...