China Merchants Port profit drops by 38.4pc to HK$5.1b

China Merchants Port (0144) said net profit dropped by 38.4 percent to HK$5.15 billion from a year ago.

Revenue grew by 0.53 percent to HK$8.95 billion, which was mainly attributed to overseas operations. This offsets the drop in revenue from the Pearl River Delta region amid the coronavrus disease pandemic.

The basic earnings per share were 146.25 HK cents. A final dividend of 51 HK cents per share was declared.

In 2020, the company's ports handled a total container throughput of 120.52 million TEUs, up by 7.9 percent over the previous year.

Ports in mainland China, Hong Kong, and Taiwan contributed an aggregate container throughput of 91.65 million TEUs, up by 0.8 percent, on-year.