COSCO Shipping International Books Higher Attributable Profit in H1; Shares Up 5%

MT Newswires08-13

COSCO Shipping International (SGX:F83, HKG:0517) profit attributable to equity holders was up 16% to SG$2.3 million in the first half from SG$2.0 million a year ago, according to a filing with the Singapore Exchange on Monday.

Earnings per share came in at SG$0.0010 compared with SG$0.0009 in the comparable period.

The shipping company's sales were down 9% year over year to SG$82.3 million from SG$90.2 million, mainly due to a decrease in sales for the property management and ship repair and marine engineering segments.

Shares of the shipping company surged nearly 5% in recent trading.

Price (HKD): $0.14, Change: $+0.01, Percent Change: +4.58%

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