COSCO Shipping International Singapore has reported a solid increase in both revenue and profit for the first half of 2025, driven by a strong performance in its core logistics and ship repair businesses. The Singapore-based company's results show a 15 per cent rise in net profit, achieved despite what it describes as a challenging global economic environment.
For the six months ending June 30, the group posted a turnover of SG$91 million ($67.3 million), an 11 per cent increase from the SG$82.3 million recorded in the first half of 2024. This top-line growth contributed to a profit attributable to equity holders of SG$2.6 million, up from SG$2.3 million in the prior-year period.
The company's improved performance was primarily due to higher revenue from its logistics, ship repair, and marine engineering segments. Cost of sales, a key outgoing, increased by nine per cent, which the company stated was in line with the growth in revenue.
The rise in net profit was attributed mainly to, "higher profit margins and lower interest expense, partially offset by higher administrative expenses and lower other income."
Looking ahead, the company acknowledged that the global economic environment, "remains challenging, marked by heightened uncertainty stemming from a resurgence of trade protection policies...and escalating geopolitical tensions." However, it stated that it will continue to look for investment opportunities in the logistics and supply chain sectors across Southeast Asia.