Cosco Pacific’s first quarter profit has crashed by almost 30%.
The port heavyweight pocketed $77.15m in the opening three months of the year, down from the $109m seen a year ago.
It explains the fall follows a smaller contribution from its container-manufacturing wing, which saw its top line dip by almost 80%.
Cosco Pacific’s revenue was down by one third at $174.03m despite container throughput increasing by more than a tenth.
