China Merchant Port 2016 Profits Up 14% to $707m

China Merchants Port Holdings saw 2016 net profit rise 14% to HKD5.49bn ($706.5m) on gains in both container and bulk terminal volumes.

News ID: 73199

Date: 04 April 2017 - 08:50

Revenue from the group’s core ports operation rose 14% to HKD24.51bn and generated a pre-tax profit of HKD11.54bn, up 9% year-on-year China Merchants Ports said in a press release, reported by MANA correspondent.

The group's ports posted record-high container throughput of 95.8m teu up 15% from 2015, while bulk cargo throughput rose 30% to 460m tonnes.

The group’s Mainland China ports still contributed the bulk of volumes with container throughput of 71.9m teu, an increase of 17.0% year-on-year, which was mainly driven by the additional contribution from a new equity investment in Dalian Port (PDA) Company earlier in the year.

China Merchants Port's operations in Hong Kong and Taiwan saw container throughput grow 12% to 6.9m teu.