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.
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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.
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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)