GlaxoSmithKline plc (LON: GSK) falls as Cosco Pacific aims higher

Cosco Pacific profit up 82% in first half

In brief: Cosco Pacific continues to catch the bullish trend due to increased earnings in the current year. GlaxoSmithKline plc (LON: GSK) goes down.

The third-largest operator of container terminals Cosco Pacific has published profit’s data. The Cosco profit had risen by 82% in the first half due to the recovery of world trade and sale of shares in the logistics enterprise.

It is reported that net income rose to $ 189.9 million or 7.96 cents per share, compared with $ 104.5 million or 4.66 cents per share a year earlier. However, the company earned $ 84.7 million from the sale of shares in Cosco Logistics. Besides the fact that container traffic Cosco Pacific rose 19% in the first half thanks to increased demand for Asian goods. Meanwhile, Britain’s GlaxoSmithKline plc (LON: GSK) fell unexpectedly to 1,212.50 points (-1.22%) in early trading.

Igor Tringlers
2010-08-24 10:06, Economics.

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