CMA CGM is to attempt to shave $1.2bn off its costs as it consolidates its position following acquisitions.
The French carrier announced the plan as it revealed its 2018 results, which saw record revenues of $23.48bn, up 11.2%.
This, however, translated into a pre-tax profit of $167.7m, down from $800.7m a year earlier.
Operating expenses rose from $18.9bn to $22.3bn, while core ebit was $610.4m, down from $1.57bn, following a 33% increase in …
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Source: The Loadstar