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Cosco Shipping issues profit guidance for Q1

COSCO Shipping International (S) said on Thursday that it expects to report a net profit when it announces its first-quarter earnings for the period ended March 31.

The company said in a filing with the Singapore Exchange that the results, which are scheduled to be released on May 15, "will show a profit as compared to the net loss recorded in the corresponding period of the previous financial year".

The profit is mainly attributable to contributions from its recent acquisitions - Cogent Holdings and PT Ocean Global Shipping.

Cosco shares closed flat at S$0.465 on Thursday.

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