Cosco Shipping Ports First-Quarter Profit From Continuing Operations Down 6.4% at US$45.3 Million

By Joanne Chiu Features Dow Jones Newswires

Cosco Shipping Ports Ltd. (1919.HK) on Tuesday reported a 6.4% drop in profit for continuing operations in the first quarter, as soft demand for international trade weighed on its profitability.

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The Chinese port investor said its first-quarter net profit fell 66% to US$37.6 million from US$109.1 million a year ago because of the absence of major disposal gains during the period.

Excluding the one-off items, its first-quarter profit for continuing operations was US$45.3 million, compared with US$48.4 million a year earlier. Its revenue fell slightly to US$127.8 million from US$128.7 million a year earlier.

Write to Joanne Chiu at joanne.chiu@wsj.com

(END) Dow Jones Newswires

April 25, 2017 05:24 ET (09:24 GMT)