COSCO Shipping International Projects 179% Profit Surge for 2024; Shares Up 4%

MT Newswires

02/20

COSCO Shipping International (SGX:F83, HKG:0517) expects to record a 179% increase in attributable profit for 2024 to SG$5.3 million from SG$1.0 million a year earlier, a filing with the Singapore Exchange said on Wednesday.

The profit surge is being attributed to lower interest rates on loans and an increase in settlement income, sundry income, and office rental.

The company will publish its financial findings around Feb. 28.

Shares of the shipping company were up over 4% in recent trading.

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