Cosco raised revenue despite virus outbreak

Chinese container line Cosco increased its revenue in the first quarter, although the period saw the most ravaging by the coronavirus in China. Volumes declined, but shipping analyst still deems the company financials strong.

Photo: Rodrigo Garrido/Reuters/Ritzau Scanpix

Despite the coronavirus ravaging China during the first three months of the year, Cosco managed to increase its revenue for the period, according to the Chinese shipping group's first quarter interim report, just published.

Revenue grew in the first three months of the year by 2.95 percent to CNY 36.1 billion (USD 5 billion). The operating result came to CNY 840 million, a drop from the same period last year, when the corresponding result was CNY 1.27 billion.

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