CMA CGM has reported its first profit in three quarters on the back of its cost cutting effort and increased volumes.

The French liner giant made $2.2m in the second quarter, marking a turnaround from the $43m loss seen in the preceding quarter.

Second quarter revenue was up 4.6% compared to the second quarter of 2018 and reached $6bn for the group’s shipping activities

Volumes transported by CMA CGM increased by 6.3%