China Merchants Port posts HK$8.b profit, foreign ports handle more containers

Finance | 30 Mar 2020 3:01 pm

China Merchants Port Holdings Company (0144) reported today net profit for the year ended December 31, grew by 15.4 percent on-year to HK$8.36 billion, from HK$7.24 billion in 2018.

The basic earnings per share were 247.84 HK cents, up 12.9 percent.

Revenue fell by 12.4 percent on-year to HK$8.89 million.

The number of containers it handled increased by 2.4 percent to 111.72 million twenty-foot equivalent units. Throughput of bulk cargoes handled reached 449 million tons, down by 10.5 percent.

The group’s ports in mainland China handled 83.67 million containers, up by 3.6 percen on-year, mainly due to the growth in container volume of the group's ports in the Yangtze River Delta, as well as its participation in the merger of container terminals in Tianjin.

Operations in Hong Kong and Taiwan handled an aggregate container throughput of 7.21 million TEUs, a drop of 6.1 percent.

Total containers handled by the group’s overseas ports grew by 0.9 percent year-on-year to 20.84 million TEUs, among which Colombo International Container Terminals Limited in Sri Lanka, TCP Participações S.A. in Brazil and Lomé Container Terminal S.A. in Togo recorded rapid growth in throughput volume.

Modern Terminals Limited and China Merchants Container Services in Hong Kong delivered an aggregate container throughput of 5.57 million TEUs, down by 6.1 percent year-on-year.


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