Correction to Cosco Shipping Ports Article

By FeaturesDow Jones Newswires

Cosco Shipping Ports Ltd. (1199.HK) Wednesday reported net profit more than doubled in the first half of the year, thanks to one-off disposal gains.

The Chinese port investor said its first-half net profit was US$384.7 million, up 124% from a net profit US$171.9 million a year ago. Excluding the one-off gains, its core profit in the first half fell 6.2% to US$99.3 million, it said.

Continue Reading Below

Its revenue rose 0.3% to US$275.8 million from US$275.0 million a year earlier. It recommended an interim dividend of 10.3 Hong Kong cents a share, down from 18.0 Hong Kong cents it paid a year ago.

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

Cosco Shipping Ports reported its first half earnings on Tuesday. "Cosco Shipping Ports 1H Net Profit $384.7 Million," at 0438 GMT, misstated it reported its earnings on Wednesday in the first paragraph.

(END) Dow Jones Newswires

August 29, 2017 00:42 ET (04:42 GMT)

Continue Reading Below