China-based Cosco Shipping has reported a successful third quarter 2017 compared to a massive decline last year. Nevertheless, the company remains deep in the red after the first nine months this year.
The net result for the third quarter climbed to 19.4 mill. $. In the same peri[ds_preview]od 2016, Cosco Shipping reported a net loss of -254.1 mill. $. Despite the profit generated in the third quarter, the company’s results for 2017 so far remain negative with a deficit of -157.6 mill. $. Compared to the first nine months in the previous year. However, Cosco was able to reduce the loss by almost 50 %.
The turnover of Cosco Shipping in the third quarter 2017 was nearly 7 mill. $, compared to 9.85 mill. $ in the same period 2016. The cost of sales could be reduced from -12.2 mill. $ to -7.1 mill. $ and the loss before income improved from -4.6 mill. $ in the third quarter 2016 to -4.1 mill. $ in the same quarter of this year.
