Cosco Shipping Holdings Q3 Profit Soars 286%; Hong Kong Shares Up 3%

MT Newswires Live10-31

Cosco Shipping Holdings (HKG:1919, SHA:601919) reported a net profit attributable to equity holders of 21.25 billion yuan for the quarter ended Sept. 30, a 286% increase compared with 5.51 billion yuan in the previous year quarter, according to a Thursday filing with the Hong Kong bourse.

Earnings per share were 1.33 yuan, compared with 0.34 yuan a year ago.

The operating revenue for the quarter jumped 72% to 73.51 billion yuan from 42.74 billion yuan in the prior-year quarter.

The shipping company's stocks were 3% up in recent trading on the Hong Kong Stock Exchange and over 2% higher on the Shanghai Stock Exchange in recent trading.

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