Cosco Pacific has posted lower net profit for the first three months of this year despite handling higher throughput volumes at its terminals, Seatrade-asia reports. Net profit for the first quarter dropped to $109m compared to $133.2m in the same quarter of 2010, the Hong Kong-listed firm announced Tuesday. The company registered higher revenue of $130.3m in the quarter compared to $108.4m in the same quarter of 2010. In China alone, Cosco Pacific handled greater throughput volumes of 10.1m teu compared to 8.3m teu in the corresponding quarter of last year.
“The imports and exports (for China) recorded growth rates of 32.6% and 26.5% respectively, which led the container throughput of China ports to increase by 13.1%,” Cosco Pacific said in a statement. “As the group has a strong presence in China, the terminal business benefited from the continuous growth of China trade.”
“The imports and exports (for China) recorded growth rates of 32.6% and 26.5% respectively, which led the container throughput of China ports to increase by 13.1%,” Cosco Pacific said in a statement. “As the group has a strong presence in China, the terminal business benefited from the continuous growth of China trade.”