Cosco Pacific's profits slide

摘要

Hong Kong listed Cosco Pacific has seen its revenue rise by 3.4% to USD349 million in 2009 compared to the year before - but both net and operating profit (EBIT) plunged following the impact of the global downturn. The company, part of China's Cosco conglomerate and whose main businesses include owning/managing container terminals and container leasing, saw its 2009 net profit plummet by 69% to USD150.4 million and EBIT by 94% to USD66.1 million (see figure). This led to a return on sales (RoS) of 18.9%, down on the 35.5% recorded in 2008.