COSCO reports record 2022 interim results
The listed companies under COSCO SHIPPING have recently announced their 2022 interim results with COSCO SHIPPING Holdings achieving the best performance in history for the first half of the year.
COSCO SHIPPING Holdings recorded an EBIT of US$13.6 million, representing a huge year-over-year increase of 92.2%, and realised a total pre-tax profit of US$13.4 million, a year-over-year increase of 95.83%.
Additionally, the company's net profit attributable to equity holders reached US$9.2 million, translating to a year-over-year increase of 74.46%, which is also a historical high.
During the same period, COSCO's port and terminal operator, COSCO SHIPPING Ports also achieved increased financial and operating results.
The company's revenue grew by 24.7% to US$704.6 million, gross profit climbed by 33.3% to US$197.7 million, and the total container throughput rose 5.3% to approximately 20.5 million TEU.
Source: Container News
Related News
09/02
2022
Businesses worldwide are struggling with skyrocketing freight rates in the wake of the Covid-19 pandemic. What can they do to keep surging shipping costs from affecting customers?
28/11
2022
A.P. Moller – Maersk has announced another weekly, dedicated rail service, the ‘Pratigya Express’, from Sonipat Inland Container Depot (ICD) in National Capital Region (NCR) to APM Terminals Pipavav Port on the western coast of India in Gujarat.
24/01
2022
Yantian International Container Terminal (YICT) in China’s Shenzhen Port is taking in export-bound containers with an estimated berthing time of four days, as containers are accumulating in its yard as a result of disrupted shipping schedules.