CSSC (Hong Kong) Shipping Company released its interim results for 2020, showing that the group's total earnings and other revenues during the period were RMB1.027bn, down 9.5% from the same period last year. Operating profit was 430 million yuan, down 12.1 percent year on year. During the period, profit was 498 million yuan, up 10.2% year on year. Underlying earnings per share were HK $0.082 and an interim dividend of HK $0.03 per share was proposed.
According to the announcement, the decrease during the period was mainly due to the decrease in financial chartering income and interest income from loans and part of the increase was offset by the increase in operating chartering income and commission income.
In addition, the increase in profit during the period was mainly due to the increased share of joint venture's performance due to the continued expansion of its shipping projects.
Source: Sarah Yu ,XINDE MARINE NEWS
The opinions expressed herein are the author's and not necessarily those of The Xinde Marine News.
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