Singapore's Cosco Shipping International H1 profit jumps on reduced finance costs

COSCO Shipping International (SINGAPORE)

12/08/2026 11:12

Overview
Singapore shipping services firm's H1 sales rose 6% yr/yr to S$96.8 mln
Gross profit for H1 increased to S$23.8 mln from S$23.1 mln
Net profit for H1 surged 149% to S$8.3 mln
Profit before tax nearly doubled, driven by higher operating income and lower interest expense

Outlook
Company did not provide specific financial guidance or outlook for future periods

Result Drivers
HIGHER REVENUE - Revenue rose 6% in H1, driven stronger contributions from ship repair, logistics, and marine engineering segments.
LOWER INTEREST EXPENSE - Reduced finance costs, mainly due to less borrowings, supported profit growth
ASSOCIATE PROFITS - Increased share of profit from associates boosted pretax profit

Company press release: ID:nSN4PnXml

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Sales
 
S$96.80 mln
 
H1 Gross Profit
 
S$23.80 mln
 
H1 Pretax Profit
 
S$11.38 mln
 

Analyst Coverage
The stock recently traded at 30 times the next 12-month earnings vs. a P/E of 30 three months ago

Reuters Recommended Reads
Aug 11 - Norway's Wallenius Wilhelmsen Q2 revenue rises sequentially on strength in shipping services
Aug 10 - International Seaways Q2 profit beat estimates on higher TCE rates
Aug 11 - Himalaya Shipping Q2 prelim revenue reaches $53.3 mln

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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.)