Cosco Corp's Q3 net profit down 17% to $32.2m

Cosco Corporation (Singapore) reported a net profit of $26.6 million in the three months to Sept 30, 2012 (Q3 2012), down 17% from $32.2 million in the same quarter last year (Q3 2011).

Turnover fell 3% to $937 million from $970 million.

In the nine months to Sept 30, 2012, net profit at the Chinese shipyard slid 19% to $82 million from $101 million a year ago, while revenue fell 3% to $2.89 billion from $2.98 billion.