BERMUDA's textainer Group Holdings increased first quarter year-on-year net profit 25 per cent to US$77.6 million.
'For the first quarter, lease rental income of $199 million was in line with the fourth quarter despite two fewer billing days, and was 17 per cent higher than last year,' said Textainer president and CEO Olivier Ghesquiere.
'Our focus on longer term leases at attractive yields, matched with fixed-rate debt and a proactive hedging strategy, have secured our profitability and stable cash generation to largely mitigate future market cyclicality risk.
'As we evaluate the remainder of 2022, we are confident in the strength of our underlying business fundamentals. We remain focused on delivering a long-term balanced approach of driving organic growth through disciplined and accretive capex investments, while returning capital to common shareholders through our ongoing share repurchase and dividend programmes,' said Mr Ghesquiere.
Textainer has operated since 1979 and is one of the world's largest lessors of intermodal containers with more than four million TEU in owned and managed fleet.
'We lease containers to approximately 200 customers, including all of the world's leading international shipping lines, and other lessees. Our fleet consists of standard dry freight, refrigerated intermodal containers, and dry freight specials,' said the company press release.
SeaNews Turkey
'For the first quarter, lease rental income of $199 million was in line with the fourth quarter despite two fewer billing days, and was 17 per cent higher than last year,' said Textainer president and CEO Olivier Ghesquiere.
'Our focus on longer term leases at attractive yields, matched with fixed-rate debt and a proactive hedging strategy, have secured our profitability and stable cash generation to largely mitigate future market cyclicality risk.
'As we evaluate the remainder of 2022, we are confident in the strength of our underlying business fundamentals. We remain focused on delivering a long-term balanced approach of driving organic growth through disciplined and accretive capex investments, while returning capital to common shareholders through our ongoing share repurchase and dividend programmes,' said Mr Ghesquiere.
Textainer has operated since 1979 and is one of the world's largest lessors of intermodal containers with more than four million TEU in owned and managed fleet.
'We lease containers to approximately 200 customers, including all of the world's leading international shipping lines, and other lessees. Our fleet consists of standard dry freight, refrigerated intermodal containers, and dry freight specials,' said the company press release.
SeaNews Turkey