COSCO Shipping Ports’s Profit & Box volume

TOP NEWS / May 3, 2019

COSCO SHIPPING Ports Limited (“COSCO SHIPPING Ports” or “CSP” or the “Company”, SEHK: 1199), the world’s leading ports operator, announced first quarter results of the Company and its subsidiaries (the “Group”) for the three months ended 31 March 2019.

2019 First Quarter Results Highlight

  • Revenue was $247.7million +4.1%yoy
  • Gross profit was $70.1million, -5.2%yoy
  • Share of profits from JV and associates was $61.9million, -2.2%yoy
  • Net Profit was $49.9 million, -27.9%yoy
  • Adjusted net profit was $75.4million, +8.9%yoy*
  • Adjusted earnings per share was $2.42cents, +7.1%yoy*
    *excluding one-off dilution effect on equity interest from QPI & impact from HKIFRS16

Operational Review

  • Total throughput was 28,731,733 TEU, +5.6%yoy
  • Total throughput from subsidiaries was 5,943,433 TEU, +13.5%yoy
  • Total equity throughput was 9,282,056 TEU, +7.7%yoy

Although there are still uncertainties in the global economy in 2019, the market expects that Sino-US trade war may reach agreement, low interest rates environment continues and China and Europe will continue to strengthen cooperation to promote “Belt and Road Initiative”, which may gather momentum of growth for global economy. COSCO SHIPPING Ports is committed to building global terminal network continuously and strategically exploring investment opportunities of overseas terminals, in order to strive for better returns … Read more

Source: Container-News

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