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Cosco Shipping Holdings' H1 Profit Jumps on Higher Revenue

MT Newswires ·  {{timeTz}}

12:32 AM EDT, 08/31/2022 (MT Newswires) -- Cosco Shipping Holdings' (HKG:1919, SHA:601919) first-half profit rose from a year earlier, driven by higher revenue, a Tuesday stock filing showed.

Attributable profit at the shipping company for the six months through June 30 increased to 64.71 billion yuan ($9.36 billion), or 4.04 yuan per share, from 37.10 billion yuan, or 2.33 yuan per share, a year ago.

Six analysts from Visible Alpha estimated 5.11 yuan per share.

Revenue nearly doubled to 210.78 billion yuan from 139.26 billion yuan a year earlier, slightly higher than analysts' estimate of 210.31 billion yuan in a Visible Alpha poll.

The container shipping segment's revenue jumped nearly 52% while the terminal business segment saw a 24% increase.

Price (HKD): $11.98, Change: $+0.02, Percent Change: +0.17%

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