Cosco Shipping Ports profit more than doubles

Date: Tuesday, March 27, 2018
Source: Market Watch

Cosco Shipping Ports Ltd. (1199.HK) Monday said its 2017 net profit more than doubled from a year earlier, partly due to a one-off disposal gain and higher operating profits.

The Hong Kong-listed shipping company said its net profit for the year ended Dec. 31 rose to US$512.5 million from US$247.0 million a year earlier. The net profit was above the average forecast of US$430.7 million by 8 analysts in a FactSet poll.

The firm's full year revenue rose 14% to US$634.7 million. It proposed a final dividend of 13.1 Hong Kong cents (1.684 US cents) per share.

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