COSCO SHIPPING Ports Sees Higher Revenue but Lower Profits

COSCO SHIPPING Ports (HK:1199) has released an update.

COSCO SHIPPING Ports reported a 5.1% year-over-year increase in total throughput for Q3 2024, reaching 37.4 million TEUs, alongside an 11.2% rise in revenue to $399 million. Despite the higher revenue, the company’s profit attributable to equity holders saw a slight decline of 1.7% to $81.9 million. Over the nine months, revenue grew by 5.8% to $1.1 billion, but profits decreased by 5.4% to $221.1 million, reflecting the challenges in maintaining profitability amid rising costs.

For further insights into HK:1199 stock, check out TipRanks’ Stock Analysis page.