OREANDA-NEWS. March 30, 2012. COSCO International announced 2011 annual results, and held 2011 annual results press conference and analyst meeting. Mr. Ye Weilong, Executive Vice President of COSCO Group and Chairman of COSCO International, Mr. Zhang Liang, President of COSCO Hong Kong Group and Vice Chairman of COSCO International, and the company's management attended the meetings, reported the press-centre of COSCO.

In 2011, revenue of COSCO International increased by 23% year-on-year to HKD 10.7 billion. The company's core business achieved stable growth. The revenue from the shipping services rose by 20% to HKD 9.5 billion, and the segment profit before income tax from shipping services reached HKD 488 million, representing a year-on-year increase of 19%. Owing to the disposal of the entire shareholdings in Sino-Ocean Land Holdings Limited in December 2010, profit attributable to the equity holders of the company for the year declined by 69% to HKD 390 million.

If all profits in relation to Sino-Ocean Land Holdings Limited of HKD 981 million in 2010 were excluded, profit attributable to the equity holders would have increased by 36% on the same basis. Basic earnings per share was HKD 0.258. The board of directors recommended a final dividend of HKD 0.07 per share. Together with the interim dividend of HKD 0.02 per share, the total dividends of HKD 0.09 per share represented a dividend payout ratio of 35%.