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Cosco Shipping Development's H1 Profit Declines; Shares Down 3%

MT Newswires ·  09/26 15:20

03:19 AM EDT, 09/26/2022 (MT Newswires) -- Cosco Shipping Development's (HKG:2866, SHA:601866) first-half profit fell from a year ago as the ship and container operator posted lower revenue, according to the company's interim report filed Friday.

Attributable profit decreased to 2.70 billion yuan ($376.2 million), or 0.1993 yuan per diluted share, from 3.04 billion yuan, or 0.2514 yuan per share, a year earlier.

Revenue for the six months through June 30 declined to 13.11 billion yuan from 14.95 billion yuan.

Shares of the port operator fell more than 3% in Shanghai and nearly 2% in Hong Kong during Monday's afternoon trading.

Price (HKD): $1.05, Change: $-0.02, Percent Change: -1.87%

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