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Cosco Corp sinks into the red in Q2

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Published Fri, Jul 31, 2015 · 09:50 PM

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Singapore

COSCO Corp (Singapore) has admitted that it is struggling to make higher-value products and continued to flag thinner profit margins ahead for its shipbuilding contracts as it sank unceremoniously into the red for the second quarter.

The group racked up a net loss of S$4.76 million for the three months ended June 30, compared with a net profit of S$14.3 million in Q2 2014, it said on Friday.

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