Cosco Shipping Co., a unit of China's biggest shipping company, made a 48% gain in the fourth quarter profit as charges for carrying iron ore, coal and other dry bulk goods were increased.
Net income rose to RMB 180 million in the three months ending December from RMB 122 million a year earlier. The figures were derived by subtracting results for the first three-quarters from preliminary full-year numbers from the Guangzhou-based company. Sales increased 21% to RMB 1.09 billion.
However, Cosco Shipping's fiscal net income fell to RMB 615.5 million, or RMB 0.94 per share, compared with RMB 685 million, or RMB 1.05 per share, a year earlier, said the company in a statement to the Shanghai Stock Exchange Tuesday.
Net income rose to RMB 180 million in the three months ending December from RMB 122 million a year earlier. The figures were derived by subtracting results for the first three-quarters from preliminary full-year numbers from the Guangzhou-based company. Sales increased 21% to RMB 1.09 billion.
However, Cosco Shipping's fiscal net income fell to RMB 615.5 million, or RMB 0.94 per share, compared with RMB 685 million, or RMB 1.05 per share, a year earlier, said the company in a statement to the Shanghai Stock Exchange Tuesday.