COSCO Shipping International Co., Ltd. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2018; Reports Impairment for the Third Quarter Ended September 30, 2018
For the nine months, the company reported turnover of SGD 122,831,000 compared to SGD 29,201,000 a year ago. Profit before income tax was SGD 10,492,000 compared to loss of SGD 23,579,000 a year ago. Profit from continuing operations was SGD 7,579,000 compared to loss of SGD 23,912,000 a year ago. Total profit was SGD 7,579,000 compared to loss of SGD 157,597,000 a year ago. Profit attributable to equity holders of the company was SGD 7,390,000 compared to loss of SGD 74,971,000 a year ago. Profit for the period was SGD 7,579,000 compared to loss of SGD 157,597,000 a year ago. Basic and diluted earnings per share from continuing operations were 0.33 cents compared to loss of 1.07 cents a year ago. Net cash provided by operating activities was SGD 3,394,000 compared to SGD 307,055,000 a year ago. Purchase of property, plant and equipment was SGD 17,261,000 compared to SGD 7,321,000 a year ago.
For the quarter, Write-off of property, plant and equipment was SGD 3,000.