News / Zim sails into calmer waters as it reports a return to profit in the first quarter

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Zim today reported 6% year-on-year growth in Q1 revenue and a near doubling in adjusted profits, indicating it may have turned a corner after a disappointing 2018.

Last year, the carrier failed to turn its four-year-high in revenue into any sort of profit, posting a $119.9m loss and blaming depressed first-half rates and high bunker costs.

However, in the first three months of 2019, things appeared to have improved, with revenue hitting $796m, generating profits of $69.3m (measured as adjusted ebitda).

Chief executive ...