Cosco Pacific Registers 14% Fall In Q113 Net Profit
News: Hong Kong-based Cosco Pacific registered a 14% year-on-year (y-o-y) fall in net profit, to US$66.05mn, in Q113, compared with US$77.15mn in Q112. The decline was attributed to higher operating costs and an increase in income tax for some terminals in China, owing to the end of tax holiday. However, Cosco Pacific's revenue grew 9.8% y-o-y to US$191.13mn. The company's total container throughput of terminals and container fleet capacity climbed by 10.7% and 5.9% y-o-y to 14.14mn and 1.87mn twenty-foot equivalent units (TEUs) respectively.