Cosco returns to black

Beijing: Financially troubled Chinese shipping giant, China Cosco Holdings, is expected to record a profit for the year ended 31 December 2013, and successfully avoid delisting from Shanghai Stock Exchange.

The profit is primarily down to the efforts of the company in increasing revenue and reducing operation costs, and also the disposal of equity interests and assets in several companies, Cosco said in a statement.

“The annual report of 2013 will be published in March, and we don’t expect big changes on our positive results,” an official from IR department of Cosco told SinoShip News.

Cosco reported a net loss of RMB990m in the first half of 2013. [17/01/14]

 

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