COSCO SHIPPING International (Singapore) Full Year 2024 Earnings: EPS: S$0.002 (vs S$0.001 in FY 2023)
COSCO SHIPPING International (Singapore)'s full year 2024 earnings have reported a revenue of S$172.9m, down 3.2% from the previous year, and a net income of S$5.47m, up 188% from FY 2023. The company's profit margin has increased to 3.2%, driven by lower expenses, with an EPS of S$0.002, up from S$0.001 in FY 2023. This increase in profitability is a positive note for the company.
- The fact that COSCO SHIPPING International (Singapore) was able to reduce its expenses and still maintain profitability could be seen as a testament to the company's cost-cutting efforts, potentially indicating a more efficient operations structure.
- However, despite this improvement, the company's revenue has declined, which raises questions about whether the current business strategy is sustainable in the long term.