COSCO Shipping Energy Transportation Posts 1H Profit Of RMB 4.56 Billion

COSCO Shipping Energy Transportation (01138) reported interim profit of RMB 4.56 billion for the six months ended June 30, up 1.4 times from a year earlier, and declared an interim dividend of 28 fen per share, according to ETNet. Earnings per share were 83.34 fen. Revenue rose 30.3% to RMB 15.08 billion, gross profit increased 1.3 times to RMB 6.24 billion, and gross margin improved by 18.4 percentage points. Other income and gains climbed to RMB 280 million, while EBITDA rose 69.14% to RMB 8.66 billion. Transport volume excluding time-charter business fell 12.79% to 82.39 million tonnes, and transport turnover excluding time-charter business dropped 22.05% to 267.2 billion tonne-miles.