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Cosco reports 19% rise in Q2 earnings

Revenue for April-June period up 29%; results also boosted by interest income and forward currency contracts

Published Fri, Aug 1, 2014 · 10:00 PM

COSCO Corporation (Singapore) yesterday posted S$14.3 million in second-quarter net profit attributable to equity-holders, a 19 per cent increase from a year ago.

Including non-controlling interests, Q2 net profit jumped 59 per cent to S$30.2 million.

The ship repair and marine engineering and shipping group's revenue for the three months ended June 30 increased 29 per cent to S$1.15 billion from S$890.3 million, supported by the increase in shipyard revenue.

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