17 February 2020

Cosco Pacific net profit doubles, WSJ says

Cosco Pacific Ltd. (01199.HK) saw its 2013 net profit more than double to US$702.7 from US$342.2 million in the previous year, well above the average analyst forecast of US$453.3 million, the Wall Street Journal reported on Tuesday. The strong results were partly driven by a net one-off gain of US$393.4 million from the company’s sale of its entire 21.8 percent stake in container maker China International Marine Containers (Group) Co. Ltd. (000039.CN) to its state-controlled parent China Ocean Shipping (Group) Co. Ltd., the report said.

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