Cosco Shipping Ports net drops by 36.7pc to US$324m

Business | 28 Mar 2019 5:46 pm

Cosco Shipping Ports (1199) said net profit for 2018 declined by 36.7 percent to US$324.6 million.

Revenue increased by 57.6 percent to US$1 billion.

Cosco Shipping declared a final dividend of 2.02 US cents with aIts revenue rose 57.6 percent to US$1 billion. dividend payout ratio of 40 percent.

Excluding the profit from one-off exceptional items in 2017, net profit grew by 42.9 percent to US$324.58 billion.

The basic earnings per share were 10.58 US cents. Meanwhile, Cosco Shipping International (0517) net profit dropped by 20 percent to HK$286.14 million in 2018, mainly due to the significant decrease in the share of profit of Jotun COSCO.

Revenue increased by 8 percent to HK$9.52 billion mainly attributable to the increase in segment revenues of coatings and marine fuel and other products.

The basic earnings per share were 18.67 HK cents. The company declared a final dividend of 9 HK cents per share.


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