By Justina Lee
Cosco Shipping Holdings Co. reported that its first-half net profit nearly doubled, helped by strong revenue at its container shipping business.
The Chinese shipping company’s net profit for the first half surged to 64.71 billion yuan ($9.36 billion) from CNY37.10 billion a year earlier.
Revenue rose to CNY210.78 billion from CNY139.26 billion a year earlier.
The company’s board proposed an interim dividend, tax inclusive, of CNY2.01 per share, according to a filing late Tuesday.
Cosco Shipping said that the growth of global container-transportation demand should remain at a relatively stable level, even though “geopolitics and high inflation will create uncertainties for the global economic development and commodity trade.”
Write to Justina Lee at justina.lee@wsj.com
(END) Dow Jones Newswires
August 30, 2022 20:46 ET (00:46 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Read More: Cosco Shipping’s First-Half Net Profit Nearly Doubled