Revenue fell 6% to HKD10.01bn ($1.29bn) from HKD10.66bn in 2011 while net profit fell 7% to HKD363m.
Significantly however net cash rose another 3% from an already high HKD5.67bn to HKD5.82bn with management remaining vague about investment plans.
Managing director Xu Zhengjun said at a press conference this afternoon that discussions on a deal to take over China Marine Bunker (Petro China) Co Ltd (Chimbusco) are "still continuing" and put no timeframe on completion.
Looking ahead, Cosco International will develop its global sales and services network and the acquisition of "shipping-related projects inside and outside Cosco Group; while exploring business expansion into the upstream and downstream along the value chain of existing businesses," the company said.
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