Cosco Pacific hit by lack of divestments in 1st half of the year

The first half of the year saw the result dive at container terminal operator Cosco Pacific due to missing incomes from a lack of divestments - unlike last year where the company divested assets.

Photo: Århus Havn

Hong Kong-based container terminal operator Cosco Pacific saw its bottom line hammered down in the first six months of the year. The reason for this is that the company did not benefit from proceeds gained by divesting assets, as was the case in the same period last year, reports the Wall Street Journal following the company's 2nd quarter interim report.

The net result for the first half of the year came to USD 147.8 million, while the bottom line in the same period last year was 74 percent higher, at USD 560.3 million. According to Bloomberg News, analysts expected a net result of USD 150.7 million.

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