SITC (01308) announces profit growth, with the expected annual attributable net profit to shareholders of approximately $1 billion to $1.03 billion, representing an increase of approximately 86.5% to 92.1% year-on-year.

SITC (01308) announced that it expects the company's attributable unaudited profit for the year ending on December 31, 2024 to be approximately $1 billion to $1.03 billion, an increase of about 86.5% to 92.1% compared to the year ending on December 31, 2023. For the year ending on December 31, 2024, the container volume is expected to be around 3.56 million TEUs, an increase of about 10.6% from the previous year, while the average freight rate (excluding income from slot chartering) is expected to be around $721.0 per TEU, an increase of about 15.7% from the previous year. The company believes that the increase is mainly attributed to the stable expansion of the Asian market driving an increase in the group's container volume and the group's positioning as a high-quality service provider leading to an increase in freight rates.