Cosco Shipping Ports Ltd. (1199.HK) reported a 53% rise in net profit for the third quarter, on the back of higher handling volume.
The Chinese port investor said after markets closed Thursday that its third-quarter net profit was US$61.78 million, compared with a net profit of US$43.9 million a year ago. Third-quarter revenue rose 8% to US$155.6 million from US$114.1 million a year earlier, as the company's ports handled 16.6% more shipping volume to 24.1 million standardized container boxes during the quarter.
Continue Reading Below
In the first nine months, the company's net profit was US$451.9 million, more than double from a net profit of US$215.8 million a year ago, in part lifted by a US$59.0 million disposal gain.
Write to Joanne Chiu at firstname.lastname@example.org
(END) Dow Jones Newswires
October 26, 2017 05:07 ET (09:07 GMT)