Cosco more than doubles profit

China-based Cosco Corp’s full-year net profit has more than doubled as revenue touched a record on robust orders for shipbuilding and marine engineering projects.
Cosco’s net profit was S$248.8 million in 2010, compared with S$110.1 million a year earlier. Revenue rose 33 per cent to S$3.86 billion, its highest ever, from S$2.9 billion, the Singapore-listed company said yesterday.