Cosco Shipping International (Hong Kong) Logs 16% Higher Profit in H1, Shares Up 7%

MT Newswires Live08-23

Cosco Shipping International (Hong Kong) (HKG:0517) recorded a profit attributable to equity holders of HK$388.0 million for the six months ended June 30, 16% higher than the HK$335.9 million logged for the same period last year, a Friday filing with the Hong Kong Exchange said.

Attributable earnings per share stood at HK$0.2647, versus HK$0.2269 in the year-ago period.

The ship trader's revenue for H1 came in at HK$1.75 billion, 8% higher than the HK$1.62 billion logged for the year-ago period, due to an increase in revenue from its core business of shipping services.

The company declared an interim dividend of HK$0.265 per share for the period, higher than HK$0.225 from last year.

The company's shares were up over 7% in recent trade.

Price (HKD): $3.92, Change: $+0.26, Percent Change: +7.10%

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