Hong Kong-listed Cosco is heading for a gain of CNY 1.9bn ($305.98m) in the first six months of 2015, it told investors on Thursday.
This marks a swing from the CNY 2.28bn red number at the midway point of 2014.
Esme Pau and Clement Chen of Barclays Capital say the positive profit warning has been expected since the owner revealed a CNY 4bn scrap subsidy had been received in June.
They add the CNY 0.19 per share gain guided compares with the CNY 0.02 per share Bloomberg consensus.
Cosco’s underlying loss of CNY 0.21 per share will be due to the depressed dry cargo market, the Barclays analysts say.
