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.
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.
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(END) Dow Jones Newswires
April 25, 2017 05:24 ET (09:24 GMT)