News
COSCO Shipping Holdings estimates that it suffered notable decreases in profit year on year in the first half (January-June).
It is envisaged that EBIT plunged 74.1% to RMB24.7 billion (US$3.4 billion); net profit, 74.4% to RMB19.7 billion; and profit for the shareholders, 74.5% to RMB16.5 billion.
In the second quarter (April-June), it was projected that EBIT amounted to RMB14 billion, down 74.5%; and net profit, RMB11.1 billion, down 74.9%.
Container manufacturer Singamas, a member of the COSCO group, thinks that it earned a profit for shareholders of less than $10 million, a significant decrease from $38 million earned a year earlier.
