Cosco Expects Profits to Soar

17 October 2010 (Last Updated October 17th, 2010 18:30)

Cosco Shipping expects its profit in Q3 2010 to increase 13 fold to $13.5m. The Chinese shipbuilder expects its operating revenue in the same period to increase 28.88% to $177m, according to a company filing. Cosco also estimates its net profit and operating revenue will stand at

Cosco Shipping expects its profit in Q3 2010 to increase 13 fold to $13.5m.

The Chinese shipbuilder expects its operating revenue in the same period to increase 28.88% to $177m, according to a company filing.

Cosco also estimates its net profit and operating revenue will stand at $35m and $477m respectively during the first three quarters of 2010.

The company’s total assets are expected to reach $1.44bn by the end of September, up by 31.81% from the end of 2009, according to capitalvue.com.