*DJ Cosco Shipping Holdings 1H Net CNY1.16B Vs. Net CNY40.8M >1919.HK
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
September 01, 2019 19:46 ET (23:46 GMT)
*DJ Cosco Shipping Holdings 1H Rev CNY71.76B Vs. CNY45.04B >1919.HK
(MORE TO FOLLOW) Dow Jones Newswires (212-416-2800)
September 01, 2019 19:47 ET (23:47 GMT)
DJ Cosco Shipping Holdings 1H Profit Surged
By Yifan Wang
Cosco Shipping Holdings Co. (1919.HK) said its net profit for the first-half of the year surged on the back of better container shipping businesses in Asia.
Net profit during the January-to-June period was 1.16 billion yuan ($162.1 million), more than 28 times the profit during the same period last year at CNY40.8 million, the company said late Friday.
Revenue rose 59% on year to CNY71.76 billion, of which revenue from Asian region routes rose by 86%, the company said.
In a separate announcement on Friday, the company said that Huang Xiaowen, vice chairman of the company's board had resigned and Wang Haimin had been appointed as the new vice chairman. The appointment was effective August 30.
Write to Yifan Wang at yifan.wang@wsj.com
(END) Dow Jones Newswires
September 01, 2019 20:35 ET (00:35 GMT)
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