CSP’s Weak 2016 Result Missed; Aggressive Expansion Plan Warrants Higher Earnings Growth.
Cosco Shipping Ports’, or CSP’s, weak 2016 result, with net profit falling 42.5% year over year to USD 247 million, came slightly below our expectation. This was mostly due to one-off items associated with the group’s restructure in 2016, while the profit of USD 243 million from its core terminal business was largely within expectations. CSP saw a soft 1.3% organic container throughput growth in 2016, and management also offers a muted 2017 outlook with 2%-3% organic throughput growth and flatti...Cosco Shipping Ports is an investment holding company. Through its subsidiaries, Co. is principally engaged in the businesses of managing and operating terminals, container leasing, management and sale, and their related businesses. Co. is organized into the following operating segments: terminals and related businesses including terminal operations, container handling, transportation and storage; and container leasing, management, sale and related businesses.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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