News: NOL Group today reported first quarter 2013 core EBIT (Earnings Before Interest, Taxes and Non-Recurring Items) loss of US$85 million ($105 million), a 64% improvement or US$148 million, in the key profitability measure from a year ago. NOL attributed the improvement to a continuing focus on operational efficiency and cost mitigation. It was the fourth consecutive quarter of year-on-year improvement posted by the Group on a Core EBIT level. Including a non-recurring gain of US$200 million from the completed sale of the NOL headquarter building in Singapore, the group posted a first quarter 2013 net profit of US$76 million. “Our cost base has improved as we continue to build a more competitive NOL. We have improved operational performance considerably from one year ago, so we know we are on the right track,” says NOL Group CEO Ng Yat Chung. “But there is still more work to be done, especially ......