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Qinhuangdao Port projects profit surge in first half

Author: Posttime:2017-05-27 11:17:31

Hong Kong-listed Qinhuangdao Port Co has projected a surge in net profit for its first half ended 30 June 2017 in view of the improving market conditions.

The Chinese port said in a regulatory filing to the stock exchange that its net profit attributable to shareholders of the parent for the first six months is expected to increase no less than 260% compared to the previous corresponding period, which registered a profit of RMB137m ($20.3m).
Qinhuangdao Port attributed the better financial performance to improvement of the macro market environment, as well as the effective measures taken by the group to attract customers and stabilise the supply of cargoes leading to growing throughput volume.
Meanwhile, Qinhuangdao Port last week inked an agreement to sell its majority stake in its container terminal operator subsidiary to its joint venture firm with Tianjin Port Group.
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