Cosco posts 69% rise in Q3 earnings

Singapore

MAINBOARD-listed Cosco Corporation (S) announced Q3 net profit of S$7.1 million, 69 per cent higher than the S$4.2 million it made during the same period last year.

For the three months ended Sept 30, the shiprepair & marine engineering and shipping group saw its turnover increase 17 per cent to S$1.16 billion from S$989.4 million last year on the back of increases in shipyard and dry bulk shipping revenues. Its earnings per share for the quarter were 0.32 Singapore cent, compared to 0.19 Singapore cent last year.