OREANDA-NEWS. September 08, 2011. COSCO International announced 2011 interim results, and held 2011 interim results press conference and analyst meeting, reported the press-centre of COSCO.

In the first half of 2011, revenue of COSCO International increased by 38% year-on-year to HKD 5.7 billion. Among which, revenue from the core shipping services business rose by 37% to HKD 5.26 billion, accounting for 92% of the Company's total revenue.

The three largest business segments, namely, coatings, marine equipment and spare parts supply, and trading and supply of marine fuel recorded increases in revenue of 109%, 118% and 20% respectively over the same period last year.

During the period, Profit before income tax of all shipping services segments recorded year-on-year increases to different extents, and the total profit before income tax from shipping services achieved HKD 313 million, representing an impressive increase of 93% year-on-year. Profit attributable to the equity holders of the Company for the period declined by 32% to HKD 234 million, due to the disposal of the entire shareholdings in Sino-Ocean Land Holdings Limited in December 2010.

If the profit contribution from Sino-Ocean Land Holdings Limited of HKD 219 million in the first half of 2010 was excluded, profit attributable to the equity holders of the Company increased by 91% on the same basis. Basic earnings per share was HKD 0.15, and the board of directors declared an interim dividend of HKD 0.02.