COSCO SHIP INTL Posts Interim Results with Marginal Profit Dip Despite Revenue Growth

Stock News08-28

COSCO SHIP INTL (00517) has released its interim results for fiscal year 2026, reporting a modest year-on-year decline in profit attributable to shareholders even as revenue continued its upward trajectory.

The company generated total revenue of HK$2.092 billion during the period, representing a solid 8.19% increase compared to the prior year. However, profit attributable to equity holders of the company came in at HK$486 million, marking a slight decrease of 0.33% year-on-year. Earnings per share reached 33.13 HK cents, with an interim dividend of 33 HK cents per share declared.

According to the company's announcement, revenue from its core shipping services business stood at HK$2.092 billion (compared to HK$1.928 billion in 2025), reflecting a 9% year-on-year increase and accounting for nearly 100% of total group revenue (versus 99.7% in 2025). This growth was primarily driven by higher segment revenues from paints and coatings, insurance advisory services, and ship equipment and spare parts.

Meanwhile, revenue from the general trading segment declined sharply to just HK$19,000 (down from HK$5.859 million in 2025), representing a 100% year-on-year drop and contributing nearly zero to group revenue, compared to a 0.3% share in the previous year.

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