China COSCO (01919) said its net loss attributable to equity holders for the first quarter of 2016 widened to Rmb4,484 million from Rmb1,008 million for the same period last year.
Basic and diluted loss per share was Rmb0.44.
Operating revenue was Rmb14,609 million, a decrease of 19.62% from a year earlier.
As the sluggish growth in global container transportation demand, excessive shipping capacity and stagnant shipping market show no signs of improvement, it is expected that the accumulated net profit of the Group from the beginning of the year to the end of the next reporting period will be negative.
29/04/2016 11:26
China COSCO (01919) 1Q net loss widens to Rmb4.48bn
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