China Merchants Port 2016 profit up 14.3 percent

Updated 2017-03-29 20:31:24 Xinhua

China Merchants Port Holding Company Ltd. (CMPort) recorded a net profit of 5.5 billion Hong Kong dollars (708 million U.S. dollars) in 2016, up 14.3 percent from a year ago, the company said here Wednesday.

Revenue lost 3.1 percent year-on-year to about 8 billion Hong Kong dollars, according to the 2016 annual report released by the company. A final dividend of 65 cents is proposed.

Against the backdrop of a feeble economic recovery and the restorative growth of the world trade, the company will speed up the pace of mergers and acquisitions of port business and enhance cooperation with more shipping firms, Chairman of CMPort Li Xiaopeng told a press meeting.

Li expects the container throughput handled will exceed 100 million TEUs in 2017.

Founded in 1992, CMPort is the flagship subsidiary of China Merchants Group, and was listed in Hong Kong in 1992 as the first mainland red chip enterprise to be listed here.

Shares of CMPort rose 0.7 percent to end at 22.3 Hong Kong dollars. (1 Hong Kong dollar = 0.13 U.S. dollar)

Also in the News

Nicole Kidman Recalls Oscar Glory: Loneliest Time
Showbiz2016/06/16 13:58August 20 2017 00:57:32

Nicole Kidman Recalls Oscar Glory: Loneliest Time

Attending Shanghai International Film Festival, Nicole Kidman talks about her role in "Grace of Monaco".

Labor Day Travel Peak Starts
Also in the News2014/05/01 12:16August 20 2017 00:57:32

Labor Day Travel Peak Starts

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'
Also in the News2014/04/18 13:18August 20 2017 00:57:32

Johnny Depp Delivers a Speech 'Evolve the Future' in 'Transcendence'

Hollywood star Johnny Depp's speech in the upcoming new film "Transcendence" has been disclosed on Friday, April 11th.

Most Watched

News:
China World Business Sports Showbiz Audio
Video:
C4 My Chinese Life The Sound Stage China Revealed Showbiz Video Travel Video
Photos:
China World Fun Travel Entertainment Sports
Travel:
Beijing Shanghai Guangzhou
Lifestyle:
Live Music Opera & Classical Movies Traditional Shows Exhibitions
Learn Chinese:
Chinese Studio Living Chinese Everyday Chinese Just For Fun Chinese Culture Buzzwords