COSCO Pacific net profit up 207% in Q1 Article

COSCO Pacific net profit up 207% in Q1

Thursday,April 29,2010 Posted: 05:20 BJT(2120 GMT)

From:xinhua Article type:Redistributed

COSCO Pacific Limited announced Wednesday that its first quarter net profit was up 207 percent year-on-year to $133.247 million.

According to its financial and operational highlights, the first quarter net profit was mainly contributed by disposal of its equity interest in COSCO Logistic of $84.71 million.

Excluding the profit on disposal of COSCO Logistic, the group's first quarter net profit was $48.537 million, an increase of 11.8 percent year-on-year.

For the first three months of this year, total throughput handled by the group's terminal companies reached 10,645,861 TEUs, an increase of 19.1 percent over the corresponding period last year.

As of March 31,2010, the group operated and managed a container fleet of 1,565,291 TEUs, down 3.1 percent compared with 1,615,202 TEUs as of March 31,2009.