Cosco Pacific reports H1 profit rise

29 August 2011 (Last Updated August 29th, 2011 18:30)

Cosco Pacific, a unit of shipping firm China Cosco Holdings, has reported net profit of $237m for the first half that ended 30 June 2011 - an increase of 24.8% compared with the $189.9m it reported during the corresponding period in 2010. For the first half of 2011 the company has repo

Cosco Pacific, a unit of shipping firm China Cosco Holdings, has reported net profit of $237m for the first half that ended 30 June 2011 – an increase of 24.8% compared with the $189.9m it reported during the corresponding period in 2010.

For the first half of 2011 the company has reported a 25.2% increase in its revenue to $278.67m compared with the previous year’s $222.66m.

The company’s terminal business profit increased by 144.3% to $96.66m compared with $39.57m for the corresponding period of 2010.

Profit from container manufacturing business increased by 238.8% to $91.29m compared with $26.94m in the same period previously.

The company handled higher throughput of container terminals reached 24.2Mteu in the first six months, reporting a 19.7% increase from 20.3Mteu in the same period of 2010.