Subscribe to RSS feedCosco Corp counting cost of downturn
by
Marcus Hand, Singapore
—
last modified
Aug 06, 2009 03:56 PM
SINGAPORE-listed Cosco Corp’s first-half net profits fell 67% on higher costs and a difficult business environment for its Chinese shipyard business.
Cosco Corp, which owns 51% of Cosco Shipyard Group (CSG), reported a first-half net profit of S$70.2m (US$48.9m), down 67% on the same period in the previous year. The company’s revenues fell 19% to S$1.4bn.
Shipbuilding, ship repair and...
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