COSCO Shipping Development's Q1 Profit Seen to Rise 7%

MT Newswires Live

04/10

COSCO Shipping Development (HKG:2866, SHA:601866) forecasts its net profit to jump 7.4% to about 480 million yuan in the first quarter from 447 million in the year-ago period, according to a Wednesday filing with the Hong Kong bourse.

The expected rise in Q1 is attributable to moderate demand growth.

It also attributed the rise in profit to the expansion of the ship leasing business and the improvements in COSCO Shipping Development's industrial-financial service capabilities, the filing said.

The container manufacturer looks to publish first-quarter results in April.

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