China Cosco Holdings Company Limited announces that compared to the same period last year, its 1st half net profit attributable to the parent company increased by more than 90 per cent, according to its unaudited results for the six month period ended June 30.
The company's net profit in the first half of 2007 was CNY7.05 billion (US$1,027,281,974.26), the company said in a statement to the Hong Kong Stock Exchange.
The estimated 90 per cent rise in net profit for the first half of this year was attributed to the international shipping market performing healthily overall, enabling the company to "actively adopted effective measures to increase revenue and reduce expenses, and various operations have good development," it said in a release.
Its audited financial results will be disclosed in the company's 2008 interim report.
These are the first operational results since the company completed its non-public offering of A-shares and dry bulk carrier acquisition on December 29, 2007.
