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Cosco International posts positive profit alert

Cosco International posts positive profit alert
Brighter news continues to flow out of China companies with Cosco International Holdings posting a positive profit alert.

"Based on a preliminary review of the Company’s unaudited consolidated income statement for the year ended 31 December 2014, the profit attributable to equity holders of the company for the year ended 31 December 2014 is expected to increase significantly and record an increase of not less than 45% as compared with that of the year ended 31 December 2013," the company said in a stock market announcement.

Cosco attributed the expected better performance to "the solid growth of the core businesses and an increase in net financial income" but warned that the expectations are based on unaudited results.