Shanghai port profit up 5.7pc to US$484.8 million on 7.1pc more revenue
THE Shanghai International Port (Group) Co (SIPG) has posted a 5.7 per cent first half net profit increase to CNY3.1 billion (US$484.8 million), drawn revenues of CNY3.1 billion, an increase of 7.1 per cent year on year.
The Shanghai-listed operator of the world's busiest container port, posted a 4.5 per cent first half volume increase to 18.03 million TEU year on year.
But SIPG warned of slowing growth due to the global economic outlook. "In the first half of 2015, global economic growth has slowed down, and the same can be said for China's economic growth," SIPG said.
"The slowing global economy will lead to overall more muted consumer demand, resulting in slowing port activities as well," it said.