China-based Cosco Shipping anticipates its earnings before interest and taxes (EBIT) to almost double in the first half of 2022, benefitting from increased freight rates.
In its half-year results projection, the firm estimated its EBIT to be around $14.11bn (RMB95.245bn), a surge of 92.08%, or around $6.76bn (RMB45.658bn), compared to the previous year.
Net profit attributable to equity holders is projected to jump 74.45%, or around $4.09bn (RMB27.618bn), to nearly $9.59bn (RMB64.716bn).
The...
https://www.ship-technology.com/news/cosco-projects-strong-first-half/