CHINA's COSCO SHIPPING Ports Limited has announced a 0.5 per cent year-on-year decrease in revenue to US$328 million but the company saw an increase of 11.2 per cent in gross profit to $89.9 million in the first quarter ending March 31.
The company's gross profit margin also expanded by 2.9 percentage points to 27.4 per cent, reports London's Port Technology.
The total throughput remained flat at 30.31 million TEU, with total throughput from subsidiaries at 6.65 million TEU, a decrease of 11.1 per cent compared to the same three month period last year.
For the same period, total throughput of the terminals in China increased by 0.6 per cent to 22.65 million TEU, accounting for 74.7 per cent of the Group's total.
In terms of the Group's overall performance, the overseas region experienced a marginal decline in total throughput by 1.5 per cent year on year, amounting to 7.65 million TEU, representing a 25.3 per cent share of the total.
COSCO SHIPPING Ports recently announced that its total throughput for 2022 increased by 0.6 per cent from 2021 to 130.11 million TEU.
The company's 2022 full year total equity throughput increased by 5.5 per cent year on year to 42.07 million TEU.
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