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Cosco Pacific Q3 profit down 14% to $75m

Cosco Pacific Q3 profit down 14% to $75m
Cosco Pacific saw third quarter net profit drop 14.3% to $74.5m from $86.9m previously as throughput and profit growth decelerated due to slower global economic growth and negative growth in China's trade, the company said in a stock market announcement.

Meanwhile, for the first nine months net profit rose slightly by 2.2% to $238.9m from $233.7m previously.

Third quarter throughput was almost flat at 17.7m teu while for the first nine months it rose just 2.8% to 51.5m teu from 50.1m teu previously.