Hong Kong's Cosco Shipping interim revenue rises 8%, profit dips

Cosco Shipping International (Hongkong)

28/08/2026 05:20

Overview
Hong Kong shipping services firm's interim revenue rose 8% yr/yr to HK$2.09 bln
Gross profit up 4%, but profit attributable to shareholders dipped 0.3%
Basic and diluted EPS for the period fell 0.3% yr/yr

Outlook
Company expects its Smart-Sailing stake to rise to 80% from 51% after the capital increase completes
Shanghai JOYFuel Green Energy project is expected to start production in 2027
IMF projects global trade-volume growth to moderate to 2.6% in 2026 from 4.1% in 2025

Result Drivers
SEGMENT GROWTH - Revenue increase mainly driven by coatings, insurance brokerage, and marine equipment and spare parts segments
MARGIN PRESSURE - Gross profit margin declined due to U.S.-Iran war, higher raw material and transportation costs impacting coatings segment
LOWER FINANCE INCOME - Profit attributable to shareholders fell 0.3%, mainly due to lower finance income and net exchange gains

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Revenue
 
HK$2.09 bln
 

Analyst Coverage
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 12 three months ago

Reuters Recommended Reads
Aug 27 - Shipping firm Orient Overseas' H1 net profit falls as costs rise
Aug 27 - Hong Kong's Jinhui Shipping Q2 revenue falls 9% amid sector disruptions
Aug 27 - Tian Cheng Holdings FY revenue falls on construction slowdown, weaker vessel chartering

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)