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Cosco sinks deeper into the red for Q2

Group posts net loss of S$36.8m, expects worse days ahead

Published Fri, Aug 5, 2016 · 09:50 PM

Singapore

SLUGGISH marine engineering and shipping markets sank net loss at Cosco Corporation for the quarter ended June 30 by close to seven times deeper when compared with the same period a year ago, even as it expects choppier waters ahead.

In a filing to the Singapore Exchange after trading closed on Friday, Cosco reported a loss of S$36.8 million for the second quarter of FY16. This compares with the S$4.8 million loss in Q2 FY15.

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