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COSCO International Announces 2014 Annual Results
Updated Time: 2015-03-24Page Views:

On 19th March 2014, COSCO International announced 2014 annual results, and held 2014 annual results press conference and analyst meeting in Hong Kong. Mr. Sun Jiakang, Executive Vice President of COSCO Group and Chairman of COSCO International, Mr. Zhang Liang, President of COSCO Hong Kong and Vice Chairman of COSCO International, Mr. Xu Zhengjun, Vice President of COSCO Hong Kong and Managing Director of COSCO International, and other directors and senior management of the Company attended the meetings.

In 2014, driven by the accelerated adjustment of fleet structure by the shipowners, the demand for relevant shipping services increased. During the year, profit attributable to equity holders of the Company for the year markedly increased by 49% YOY to HK$359 million. Basic earnings per share was 23.70 HK cents. The overall results were satisfactory.

The Board recommended to pay a final dividend of 10 HK cents per share, together with the interim dividend of 3 HK cents per share, the total dividends for the year amounted to 13 HK cents per share, representing a dividend payout ratio of 55%. As at 31st December 2014, the Group had net cash on hand of HK$6.1 billion to support future business development.

Looking forward, pursuant to its established strategic development plan, COSCO International will seize opportunities to explore new business related to shipping services, and actively strive for the expansion into the upstream and downstream along the value chain of existing businesses. With the full support from COSCO Group and COSCO (Hong Kong) Group, COSCO International will make every effort to achieve sustainable growth, creating great returns for shareholders.

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