COSCO Shipping Development's H1 Profit Drops 19%, Revenue Soars 105%; Shares Down 4%

MT Newswires Live09-02

COSCO Shipping Development (HKG:2866, SHA:601866) posted a net profit attributable to owners of 895.5 million yuan in the first half of the year, down 18.8% from 1.10 billion yuan a year ago, according to a Friday disclosure on the Hong Kong stock exchange.

Earnings per share fell year on year to 0.0661 yuan from 0.0815 yuan.

The Chinese supply chain integrated financial services provider earned revenue worth 11.7 billion yuan, soaring 105.2% from 5.68 billion yuan in the previous year, the company's earnings report said.

Shares of the company fell more than 4% in Shanghai and Hong Kong recently.

Price (HKD): $0.90, Change: $-0.040, Percent Change: -4.26%

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